The full post can be found here.
Why you should fade the NASDAQ surge
February 11, 2023 at 13:43 PM EST
The recent market rally has been led by a resurgence in large-cap NASDAQ stocks. This leadership has become overly extended, as evidenced by the rising divergence between their relative performance and the 10-year Treasury yield. A detailed factor and sector performance analysis reveals an underlying trend in favor of cyclical exposure.
