Pass the inhaler would you? After the market managed to catch its’ breathe a bit yesterday after an initial wobble, today feels a little more serious. We are still well up on the week, and volumes today are down 20% from yesterday, though seeing both Growth and Value down does suggest that investors are taking a bit of risk off the table. Tech is one of only two sectors trading in the green in Europe, and Banks are down with yields by over 3%, which is reminiscent of what we were seeing pre the vaccine news headlines. Attached is a piece I put together a couple of weeks ago on whether Tech should be seen as Defensive during this time of Covid, have a read. Keep an eye on gold here as well which has popped higher in the last 15mins or so.
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