Simon Hamilton, Managing Director and Portfolio Manager, notes how, in addition to the recent inaccuracy of consensus economic and market forecasts, many of the traditional relationships between asset classes, economic variables and price trends have not held true. He then discusses the narrow breadth of the stock market, the sharp underperformance of dividend-paying stocks and dispersion in sector performance. He highlights the severe sell off in bonds and what current yields could suggest about future bond returns as well as stock performance. He talks about some of the headwinds facing the Consumer Staples sector and KO, MDLZ and STZ as possible names to consider.
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