One of the big investment shifts of our day may be at hand -
regardless of how global markets actually perform this year. What's already known as the "The Great
Rotation" - a tilting of pension and insurance funds' strategic, long-term
asset preference back toward equity from extreme positioning in bonds - has
been one of themes of the new year so far.
The gist of the argument is that investor holdings of now
expensive, ultra-low yielding government debt - following a virtually unbroken
20-year bull market in bonds - are ripe for rebalancing. The attraction of
relative and absolute valuations in equity will coax the outflow to stocks.
It's this juncture that has some of the most persistent
global equity bears of the past two decades, such as Societe Generale
strategist Albert Edwards, rethinking the big picture…..
Read all about it at http://www.reuters.com/article/2013/01/23/us-investment-rotation-idUSBRE90M07720130123
No comments:
Post a Comment