A spectacular momentum crash unfolded since late August, caused by the bounce back in sovereign bond yields. Within equity markets, value stocks experienced an impressive rebound while momentum stocks fell strikingly. Critically, the rise in bond yields and the rebound in value stocks reflect improved growth expectations, which contradicts the mood among economic forecasters.
To read this article, you need a subscription to Investment Officer. If you don't have a subscription yet, click on 'Subscribe' to see the various subscription options.
