Nancy Curtin, CIO at Close Brothers Asset Management, examines how likely a full-blown great rotation really is...
The equity market rally continues apace, albeit punctuated by pauses and dips as policymakers continue to disappoint. ‘Risk-off’ moments have occurred on the back of the US sequestration debate, splintered legislatures, policy tightening in China and continuing issues in the eurozone (with the Cyprus bail-in debacle coming on top of electoral paralysis in Italy). However, so far, these have failed to undermine the powerful liquidity momentum behind rising markets. Unusually, the equity market rally has not been accompanied by commodity strength as global growth continues to disappo...
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