Excerpt from the Financial Times quoting DataTrek’s Nick Colas:
…. “The banks subsector of the index has surged 19 per cent while its industrial goods and services businesses have notched up a 9 per cent gain. The moves follow similar patterns in the US, where the broad S&P 500 has risen 5.7 per cent this year, outperforming the technology-focused Nasdaq Composite, which has gained just 1.3 per cent.
The first quarter of this year on global stock markets “was as classic a cyclical rotation as you’ll likely see in your lifetime”, said Nicholas Colas of research house DataTrek“….
Read the full article here on the Financial Times!