"CIO Foresees Healthy Market Rotation, Signals New Phase"
Originally Published 2 years ago — by CNBC
The chief investment officer of Bank Syz predicts a "healthy" rotation in the stock market as big U.S. tech stocks face pressure, with last week marking the start of this shift. He anticipates a "technical recession" in the first half of 2024 followed by a recovery, emphasizing the importance of a broadening of market participation beyond last year's winners. Another expert from Wells Fargo also expects a shift towards more cyclical asset classes and sectors better positioned for an economic recovery later in the year, advising investors to reallocate funds from richly valued sectors to more favorable ones.