Defensive groups not offering much Safety as stocks and bond yields break down in tandem

Over the last few days it’s been discussed how markets were nearing resistance.  Yet, is it correct to think that “bad news” was truly bad news for stocks if rates are breaking down?  It’s been difficult to fight the trend of falling yields being good for Equities, and one day of divergence is hardly enough to think this trend is breaking down. 

Additionally, Defensive sectors like Consumer Staples and Utilities lagged all other sectors in Wed...

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