When interest rates seem likely to climb, utility stocks fall.

Those who took that exclusion in past years and still own the utility stock cannot take it this year.

"Basically, we felt that the economy was not going to benefit these utility stocks in terms of lower rates."

Should investors then begin to bail out of utility stocks?

It has long been taken for granted that utility stocks always fall when interest rates rise.

As a result, many utility stocks, which often follow bond prices, fell.

The rise in long-term interest rates may help to explain the relatively poor performance of utility stocks.

So what's a respected research firm doing with a new "buy" recommendation on the utility stocks?

To owners of utility stocks, the idea that they are safe investments must seem odd.

"Then they will realize they own the world's most expensive utility stock."