The yield on the 10-year Treasury note rose to 2.91%, its highest mark in four years, from 2.84%. That helped banks, as the higher interest rates make lending more profitable. But it hurt high-dividend firms such as utility and phone companies. Those stocks often are compared to bonds because of their big dividend payments and relatively steady prices, but investors find them less appealing when bond yields are rising.

Source: Los Angeles Times February 14, 2018 16:07 UTC