) is down around 2% year-to-date, one of few areas that have not joined the broad market rally, adding to its appeal among bargain hunters.
Healthcare"offers some defense in a period where the lagged impact of Fed tightening is likely to cause economic growth to contract," said Emily Roland, co-chief investment strategist at John Hancock Investment Management, who is bullish on the sector. The Atlanta Federal Reserve's GDPNow forecast model showed the economy was likely growing at a 5.6% annualized rate in the third quarter, though analysts said they expect the estimate to drop as more data comes in.
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