Following a huge sell-off in the U.S. bond market that coincided with the sharp rally in cyclical stocks, when the dust settled as of last Friday’s close, the yield on the benchmark 10-year Treasury had risen to 2.29% after briefly tagging the 2.45% level. All manner of dividend stocks tied to defensive sectors have come under severe selling pressure as trigger-happy traders and fund managers pushed their defensive dividend stocks in a wave of selling that resembled the classic Rep. Paul Ryan TV commercial involving pushing an old retiree over a cliff.