Jan 7, 2021 | US Economy, US Equities
The best performing sectors before sweep elections tend to underperform afterwards, and vice versa We dig through the historical data on previous sweep elections and come to two conclusions: 1) sweep elections do mark changes in relative sector performance; and 2) the...
Aug 13, 2020 | US Economy
Inequalities that existed before this crisis have been amplified by it. One place where this is prominent is in markets. Interest-rate sensitive sectors are seeing a marked outperformance due to their heightened sensitivity to liquidity. Technology has also benefited...
Aug 6, 2020 | US Equities
Outside of technology and the FAANGs, US equity markets are pricing in a stalling of the economic recovery. The ratio of cyclical to defensive sectors has been trending sideways since the early June peak, as has the ratio of small-cap vs large-cap equities (top-left...
