Go ‘long boomer stocks, short millennial stocks,’ says BofA strategist

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Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow

“Since 1980, the U.S. government debt has risen from 31 per cent of GDP to 120 per cent, and 10-yearr Treasury yields have shrunk from 12 per cent to 4.6 per cent today. The result: a massive wealth transfer from the public to the private sector – companies and consumers: U.S. household net worth increased from $17-trillion to $150-trillion. The biggest beneficiary of the great wealth transfer was the Baby Boomer generation , in the prime working age during the period of wealth creation.

“Ahead of cybersecurity 3Q 2023 prints, we performed 7 checks over the past 2 weeks to get a better sense of how demand is tracking. Buyer sentiment looks to be relatively consistent with last quarter. Initial conversations on C24 cyber budgets suggest 5-15-per-cent increases on average with SASE and cloud security called out as top priorities. Tactically into on-cycle earnings we like CHKP as a long. ..

 

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