What's up with consumer staples?

People bought them as bond proxies and now that rates are rising they are getting sold off.

PM had earnings miss and a Citi analyst tear apart the heated tobacco industry.

I think a lot of names in the sector are oversold.

Typical in late stage bulls. The defensives lag cyclical names. Some of the telecom and staple dividends looks really solid right here, but the stocks themselves may not get a ton of price appreciation.