Shelter from the upcoming storm in Health Care, Tech and Utilities while selling financials and energy, that’s the view of Deutsche Bank’s North America equity strategists David Bianco and Ju Wang.
In a note to clients sent out at the end of last week, the duo writes that they expect the US dollar to strengthen further this year and 10-year Treasury yields to stay well under 2% for the foreseeable future as macro headwinds push investors to seek out safe haven assets. This trend will also limit any advance in oil prices and pressure on net interest margins at Financials.
“Fed left rates unchanged, but acknowledged a sturdy domestic economy and improving job...
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