In today’s briefing:
- Defensives Worthy of a Tactical Overweight; Buys in Global Health Care, Gold Miners, and Utilities
Defensives Worthy of a Tactical Overweight; Buys in Global Health Care, Gold Miners, and Utilities
- As recently as last week and throughout February/March we have recommended shifting to defensives due to our belief that $93 will cap upside on the $ACWI in 2023.
- MSCI ACWI defensive Sectors including Health Care, Utilities, and Consumer Staples are hitting 2+ month RS highs, and are staging bullish price and RS reversals, as are gold miners (GDX-US).
- This confirms our belief that now is the time to be tactically overweight defensives. We highlight buys in Health Care, Gold Miners, and Utilities, with the vast majority from Europe
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