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85.850 Banks are hot in 2022 rotation, while tech stocks could be in bubble
Technology stocks are out of favor, while previously shunned bank shares are popular again, as a persistent jump in bond yields is turning markets upside down this year.
Overweight positions on bank stocks rose to 41% among BofA's clients, closing in on a record set in October 2017.
The stampede out of tech continued on Tuesday, with futures contracts on the $NASDAQ 100 Index (.NDX.US)$ falling as much as 2.1% while yields on U.S. 10-year Treasury notes hit a two-year high of 1.85%. The tech-heavy Nasdaq is now down 4.3% this year, while the KBW Bank Index of U.S. lenders has jumped 11%.
Overweight positions on bank stocks rose to 41% among BofA's clients, closing in on a record set in October 2017.
The stampede out of tech continued on Tuesday, with futures contracts on the $NASDAQ 100 Index (.NDX.US)$ falling as much as 2.1% while yields on U.S. 10-year Treasury notes hit a two-year high of 1.85%. The tech-heavy Nasdaq is now down 4.3% this year, while the KBW Bank Index of U.S. lenders has jumped 11%.
Do you think U.S. tech shares are in a bubble?
Source: Bloomberg
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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BullRunner : I think they are very close !
kekejiw :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
kekejiw : I think they closed
bullrider_21 : Yes they are in a bubble. Many tech stocks have high valuations and have big corrections already.