Stocks of consumer products companies are often referred to as "defensive" names, as demand for the goods those companies produce is not tied to economic conditions. That one-day outperformance is in stark contrast with the consumer products group's poor performance over the past year, however. Consumer products stocks are valued for their dividend yields (also shown in the table) and those yields become marginally less attractive as interest rates rise. But the consumer products stocks have not just underperformed relatively, they have actually fallen, and that has my bearish instincts kicking into overdrive. When fund managers rotate out of stock sectors it is usually a process of quarters and years, not days and weeks.

Source: Forbes March 23, 2018 10:52 UTC