have skyrocketed in the past year while prices fell, though data from the St. Louis Fed shows that the gap between the two has actually narrowed in recent months as markets price in fewer future interest rate hikes from the Fed.
With that said, the winners of previous bull markets won't necessarily work in this new backdrop. One sector that Abate said he's especially wary of is technology, which he sees as reliant on economic strength in addition to low interest rates, even though it outperformed during 2020.
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