Growth and Value leadership often hinges on real yields. When inflation-adjusted rates rise, Value historically gains the edge; when they fall, Growth regains momentum. Understanding real yield regimes helps investors anticipate style rotations and position portfolios as macro conditions evolve.
January 16, 2026 As 2026 gets underway the clear near-term message from US equities, style profiles and sectors is a near-term shift from Growth towards Value and cyclicality. In many cycles this shift is driven by a combination of earnings abundance and inflation dynamics that underpin “late-cycle” environments. That may be exactly where we are
Factor Friday: Recent Developments Continue to Support Value over Growth Read More »
Value’s early-2026 resurgence reflects rising rate uncertainty, widening earnings participation, and investor demand for near-term cash flows. While not yet signaling a lasting regime change, the rotation underscores late-cycle discipline as markets rebalance away from concentrated Growth leadership toward broader, valuation-aware exposure
Factor Friday: Value’s Early-2026 Resurgence: Tactical Rotation or Durable Shift? Read More »
The past several weeks of data and headlines have meaningfully improved investor sentiment, not because risks have disappeared, but because the distribution of outcomes has shifted away from the most adverse scenarios. Inflation is cooling faster than expected, the labor market is softening without cracking, earnings expectations remain intact, and the Federal Reserve is increasingly
Factor Friday: Assessing Style Prospects in the Wake of Cooler Inflation Read More »
December 12, 2025 Growth vs. Value: The Setup Is Shifting From “Duration Dominance” to a More Cyclical, Cash-Flow–Disciplined Market The current equity backdrop is best described as a regime transition rather than a clean “risk-on” or “risk-off” phase. Earnings are still trending in the right direction, the Fed is cutting—but doing so with visible internal
Factor Friday: Value Factor on the Rise Read More »
December 5, 2025 Growth vs. Value: A Historical Playbook for a Market at a Crossroads Few debates in equity investing are as persistent—or as cyclical—as the tug-of-war between Growth and Value. Across decades, the performance leadership between the two styles has shifted with changes in interest rates, productivity cycles, corporate profitability trends, and investor appetite
November 21, 2025 Tech shares couldn’t get off the mat this week despite a strong beat and raise from NVDA on Wednesday evening. The mismatch between recent results (WMT also posted a strong quarter with better guidance) and pessimistic sentiment is driven by a level of near-term uncertainty around the economy, inflation pressure and Fed
Factor Friday: Current Correction Still Looks Like a Potential Opportunity Read More »
November 14, 2025 The knives are out for the AI trade in the near-term. Morgan Stanley QDS (Quantitative Derivatives Strategy) calculates that momentum unwinds typically last 25 trading days going back to 2021, so by that frame, the current selling could continue into month-end. The sharp momentum unwind has forced investors to reassess the balance
Factor Friday: Sentiment Shifts, but Secular Trends Still Stand Read More »
November 7, 2025 Equities are dealing with the latest bout of skepticism around the valuation and inherent promise of AI stocks. We’ve pointed out many times in this space how the bull trend that started in early 2023 was a mega cap. Growth led expansion. We’ve seen over the balance of the past 3 years
Factor Friday: The Risk off Trade is a Rotation from Growth to Value Read More »
October 24, 2025 The AI investment trend remains the dominant motif in the longer-term bull market that started in 2023. How long it lasts and whether it brings the promised efficiency and prosperity that bullish speculation implies is one of the key questions for every investor with longer-term time horizons. AI has been a difficult
Factor Friday: Risk Appetite Showing Cracks Read More »
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