“We continue to believe that this value rotation we started to see over the last few weeks does have legs into 2021 as well,” said Mona Mahajan, U.S. investment strategist at Allianz Global Investors. Indeed, spikes in uncertainty have tended to send investors into tech stocks in recent months. Michael Arone, chief investment strategist at State Street Global Advisors, expects the economy to return to slower growth rates after recovering in 2021. BMO Capital Markets cut tech to “market weight” for 2021 but urged investors to maintain positions rather than sell. “I don’t think we are just going to move away from tech,” said Esty Dwek, head of global market strategy at Natixis Investment Managers.

Source: Standard Digital December 28, 2020 07:52 UTC