While the subtle shift might look reminiscent of 2004βs rotation, there are additional catalysts at playβlike tighter global liquidity and shifting macro policiesβthat differentiate the current environment. The real question is whether these capital flows reflect a durable sector pivot or a short-lived chase for relative performance.
This might be the market quietly telling us something about where smart money's heading. Reminds me of the rotation we saw back in '04
While the subtle shift might look reminiscent of 2004βs rotation, there are additional catalysts at playβlike tighter global liquidity and shifting macro policiesβthat differentiate the current environment. The real question is whether these capital flows reflect a durable sector pivot or a short-lived chase for relative performance.