Market participants appear to be tentatively pricing in a broad economic rebound as countries across the globe begin to scale back some lockdown restrictions.
People are walking by the New York Stock Exchange building during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 26, 2020.Analysts at Goldman Sachs, Bank of America and Barclays all believe that a sharp rotation into cyclical and value stocks could continue in the short term.
Analysts at Goldman Sachs, led by global strategist Peter Oppenheimer, believe markets have moved into a "second phase" in recent weeks. "Historical experience suggests that this current rotation could continue in the short term," analysts at Goldman Sachs said, noting that there have been 15 periods when cyclicals have outperformed so-called defensive sectors over the last decade.
It doesn't. This is what cashing out looks like. Jack the price, divest.
As long as the government keeps pumping money into the market... it won’t.
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