Barclays is in search of continued good points in US equities into the brand new yr however are cautious close to time period. From a Wednesday (US time) observe from analyst on the agency, in abstract:
- decrease charges in November have helped enhance flows into equities, long-duration property typically.
- development shares in expertise and cyclical particularly have befitted
- shopping for from quite a few tranches of traders: long-only, retail traders, actual cash, together with these protecting shorts
The analysts sound a cautionary tone within the close to time period:
- Rally appears to be like exhausted
Nonetheless:
- total fairness publicity is just about impartial
- money holdings are excessive
- (a comfortable touchdown feels to be the consensus, and with poor returns by mutual funds in November it means that) positioning is defensive and ache commerce stays to the upside into 2024
- Mixture fairness positioning nonetheless appears to be like marginally under impartial
- discretionary traders holding decrease fairness publicity in contrast with systematic friends
This text was written by Eamonn Sheridan at www.forexlive.com.
