The pullback in bond yields is slowly creating a tailwind for tech/growth stocks with the NASDAQ rallying over 4% last week even as turmoil unfolded across financial markets. This has been a chart we have referred to a few times over recent weeks but it’s probably still our favourite as interest rates appear to be at a pivot point courtesy of the banking crises.
- We prefer the idea of the growth stocks rallying to close the performance gap but we cannot discount a bit of both.
MM continues to look for the growth sector to outperform over the coming months
