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Author Message   Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3903 Registered: 05-2011 Posted From: 24.164.46.35 Rating: N/A Votes: 0 Posted on Monday, January 10, 2022 - 10:41 am:    Stocks and Treasuries on the defensive The stock market started the new week on an underwhelming note. The S&P 500 trades lower by 1.8% with all eleven sectors showing early losses while the Nasdaq (-2.5%) underperforms after lagging last week. The early broad-based weakness comes as continued selling in the Treasury market lifts yields to fresh highs for the year. The continued weakness reflects the belief that the Fed will be more aggressive with its tightening plans. To that point, Goldman Sachs forecast that the Fed will begin reducing its balance sheet in July while the previous forecast expected that balance sheet reduction would begin in December. The 10-yr yield is up three basis points at 1.80% today and up 29 bps since the end of 2021. All eleven sectors display early losses with last week's laggards remaining at the forefront of the selling. The consumer discretionary sector (-2.7%) is the weakest performer, trading just behind technology (-2.4%) and communication services (-2.3%). Countercyclical utilities (-0.3%) and health care (-0.3%) trade ahead of the remaining groups, but they also sit in the red. Economic data released today was limited to the November Wholesale Inventories report (actual 1.4%; Briefing.com consensus 1.2%). Later this week, the market will receive December CPI, December Retail Sales, and December Industrial Production.