Shares of real estate investment trust are selling off in unanimous fashion, as the better-than-expected June jobs data has fueled in a big jump in Treasury yields. The SPDR Real Estate Select Sector ETF /zigman2/quotes/207325179/composite XLRE -1.92% shed 1.0% in midday trading, with all 32 of its equity components losing ground. The REIT ETF (XLRE) tends to act as a bond proxy given its relatively high dividend yield, which means it becomes less attractive to investors when bond prices fall and bond yields rise. The 10-year Treasury yield jumps 10.2 basis points to 2.055% after closing Wednesday at the lowest yield since November 2016. The XLRE's yield is 3.26%, compared with the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.80% of 1.93%. Among the XLRE's most-active components, shares of Host Hotels & Resorts Inc. /zigman2/quotes/201760234/composite HST -1.77% declined 0.8%, Weyerhaeuser Co. /zigman2/quotes/200438029/composite WY +0.28% lost 1.3%, HCP Inc. dropped 1.5% and Kimco Realty Co. /zigman2/quotes/202836571/composite KIM +3.23% slipped 0.5%. Of the XLRE's highest yielders, shares of Macerich Co. /zigman2/quotes/203054096/composite MAC -0.61% fell 0.4% and yields 9.05%, while Iron Mountain Inc. /zigman2/quotes/208929343/composite IRM -0.64% slid 1.7% and yields 7.78%.