JPMorgan says the rebound in value driven by the recovery from the pandemic, falling volatility and fiscal and monetary policy support is set to last for some time.Credit:AP
“We might be at a more significant turning point rather than just historically what were blips that reverted back to the growth investing style,” New York-based Kolanovic said. “We think this recovery can last longer and be more profound and have more of an impact on investor styles and flows than people appreciate.”
The value-versus-growth debate is one of the most divisive topics in the global strategist community, especially since the reflation trade that drove a rebound in value shares has faltered recently. In previous market phases there had been an unusual cohesion of views around havens such as gold and the defensive stay-at-home trade, followed by bets on cyclicals and a steepening yield curve. That more predictable era now looks to be over.
Source: https://ift.tt/32gTOKF
