Published Columns

The Reflation Trade

Historically, an increasing rate environment will cause the high-flying growth stocks to sell off and a rotation into the cyclically sensitive stocks will take place. Sound familiar? The 10-YR Treasury has nearly tripled since the summer of 2020. We are seeing a massive rotation into energy, banks, small caps, and because of COVID, travel and leisure stocks. Being a tactical manager allows us to frequently make changes in our models. This is to take advantage

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