Tom Lee is altering his view on which shares might lead the market’s subsequent leg greater
Thomas Lee, Fundstrat World Advisors
Scott Mlyn | CNBC
The latest decline in rates of interest implies that traders ought to shift shift a few of their portfolio for the close to time period, in response to Fundstrat’s Tom Lee.
The ten-year Treasury yield was buying and selling below 1.5% on Friday regardless of a 5% rise in inflation final month. The yield spiked above 1.7% earlier this 12 months, which led to issues concerning the path for progress shares as greater charges may probably increase prices for firms and expose excessive valuations within the sector.
Lee, who gained a big following in 2020 for his evaluation of the pandemic and his associated market calls, stated in a consumer notice on Friday that the retreat in rates of interest implies that among the sector traits out there from earlier this 12 months ought to reverse within the weeks forward.
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