Market Update – Defensive Bias & Mega Cap Weakness

An uneventful round of economic releases (including recent CPI & PPI confirming disinflation but not sparking aggressive rate-cut bets) and mixed big-bank results have failed to provide a spark, particularly to the procyclical and high beta leaders of early 2026. Sentiment is cautious on this front with signs of support (3C) shifting negatively the last…