The US Dow has started to outperform the tech heavy S&P500 since bond yields started rallying post Americas strong Employment Data, a trend we believe will be ongoing for a number of weeks / months. The US Banking Index looks great with at least a likely +10% upside whereas the tech stocks are feeling tired, as opposed to bearish. This has a positive read through for the ASX and European Indices as well as the Dow from a relative performance perspective compared to the S&P500 and NASDAQ.
MM is bullish the US Banking Sector & value stocks
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