Value and cash-flow strategies retain the near-term advantage as long-term Treasury yields stay elevated, but investors continue buying Technology weakness. Growth can regain leadership if tame inflation, lower geopolitical risk and stronger AI economics finally produce a sustained decline in real yields.
Factor Friday: Value Has the Lead, but Growth Still Has a Path Back Read More »
Value and high beta have led 2026’s broadening trade, while low volatility has lagged and Growth remains hostage to AI spending expectations. Cooler inflation helps, but resilient activity and crowded positioning argue for selective—not indiscriminate—risk taking in the second half
Factor Friday: The Macro Backdrop is Constructive, But Growth Continues to be Pressured Read More »
Thematic investors are rotating decisively back into semiconductors, grid infrastructure, and selective innovation while fading gold, miners, and legacy energy. The 1-week tape is no longer just hedging war risk; it is repositioning for AI demand, power bottlenecks, and selective cyclicality.
May 30, 2025 The S&P 500 continues to develop a bullish reversal price structure (chart below). The rally off the early April lows is above March highs and only has congestion between 5963-6100. We remain sanguine on the recovery as US shares have established leadership vs. ex-US equities off the low (chart, bottom panel). Our
Factor Friday: Using Mo Funds to Find Momentum Themes Read More »
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