Markets Get Defensive Ahead of Wednesday's FOMC

It was a cadry of interest rate sensitive sectors that led today as the U.S. Treasury market rallied on Monday. Not exactly the inflationary picture that is driving the more hawkishly toned Fed to tighten a more quickly. Of course, that result will be known on Wednesday, but the positioning in the stock and bond market belies the inflationary picture most are painting. Nonetheless, the options market is posturing for the future (F, AAPL, MO, SPY, UAA, ADM)…