In a note Friday, Barclays suggested that while some consolidation was to be expected following November's rally, it would not be in keeping with typically positive seasonal momentum going into the year-end.
Barclays equity analysts backed the "reflation" trade and said they expected the shift towards emerging markets, value and cyclical stocks to continue. But they noted that there was an element of near-term caution among clients. "Understandably, many argue the size and speed of the move in November makes it unlikely the market can rally further, at least for now, as technicals are overbought," Barclays Head of European Equity Strategy Emmanuel Cau said in the note.
"We sense that investors may have been caught off guard by the recent risk-on move and hope for a better entry point. A pull back thus seems widely expected at the market level, as well as some reversal in the outperformance of recent winners."on November 9, the energy sector has rallied by a third and financials by more than one-tenth, according to TS Lombard MD of Macro Strategy Oliver Brennan.
Pre Election was about 'America First' and Post-election is about globalism.
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anti-Marxismlist! On my opinion, the human society is running on these: 1 technology define theoretical economic aggregate 2 labour define gross economy 3 finance system define distribution of wealth from gross economy
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