Citi Predicts Rising Yield in US T-Bill Could Negatively Impact National Grid

Shares of National Grid NGG are down more than 4 percent Wednesday afternoon following an earlier note from a Citi analyst suggesting increases on treasury bill yields may have a substantial negative impact on the company. The firm's analysts believe recently improving sentiment on the broader economy could raise the cost of equity toward the higher-end of the 7-10 percent range. National Grid shares last traded at $60.08 on the NYSE.