However if we do see a pullback in some sectors such as the banks then the obvious question is where will all the money go because we know there’s plenty in circulation as the printing presses keep rattling on around the world. We feel the underperforming defensive sectors are likely candidates to play some catch up e.g. Healthcare, Utilities and Consumer Staples. In our opinion the US Utilities Sector looks on track to make fresh all-time highs in the coming months in an almost opposite mirror like appearance to the banks.
MM is targeting fresh all-time highs by the US Utilities Sector
