"Veteran Strategist Warns of Complacency Amid Risk-Off Shift in Overbought Markets"

Veteran strategist David Rosenberg is "maximum" bearish on U.S. stocks, citing similarities to the setup in 2022 and warning of extreme readings in positioning, sentiment, and technicals. He advises investors to consider financials, particularly larger banks and insurance companies, as well as energy, communication services, and utilities. Rosenberg also suggests considering locking in yields on front-end T-bills and turning constructive on commodities, particularly food/agricultural products. Stock futures are lower, Treasury yields are climbing, and oil and gold prices are up, while the Nikkei 225 index hits a 33-year high. In other news, Juniper Networks stock is up on reports of a potential acquisition, and Samsung Electronics forecasts plunging fourth-quarter profit.