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Consumer staples stocks have taken a downturn in recent trade. The sector had been up 0.3% at its session high, but it is now down to a 0.3% loss, which puts it at a fresh session low. Losses in Colgate-Palmolive (CL 79.70, -0.78) and Philip Morris International (PM 58.45, -0.47) have imbued the broader consumer staples space with weakness.
While the defensive-oriented consumer staples space has come under pressure, so have Treasuries. Losses among Treasuries are only modest, but their weakness comes after they had traded with solid gains ahead of the open. The benchmark 10-year Note is now down just a few ticks and the 30-year Bond is off by about a dozen ticks.
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