Restart the Cycle?… After yesterday’s jarring Tech rebound put a screeching halt to the recent Rotation trend, the cogs are slowly beginning to turn again as the Nasdaq is giving back its early gains and the Dow powers ahead to new highs . Of course yesterday’s action never exactly felt “sustainable” but middling CPI data this morning delivered fresh hope for inflation-concerned Growth names. That relief is proving to be “transitory” even as bond yields have continued to slide after demand for the 10-year Treasury auction was seen as “good enough.” Semis and the FANG Gang (Autos, Tech, Software) are the S&P laggards once again, and Values sectors (Banks, Energy, Materials) are back on top.
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.