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The lack of analyst love for defensive sectors over the years is understandable mont blanc cufflinks replica india. Appreciated more for their rich dividend yields than share price gains, the utilities and consumer staples sectors have turned in relatively yawn-worthy performances during the long bull run since the March 2009 market bottom. Utilities and staples .SPLRCS are up 135 percent and 160 percent, respectively, versus the S&P 500’s .SPX 268 percent gain. The tech sector has jumped 441 percent and consumer discretionary has soared 513 percent..
But defensive sectors have held up reasonably well for the past three months while the market has crashed around them. Nasdaq is now in a bear market, having recently slid more than 20 percent from its record high in late August, and the S&P 500 earlier this week was just a stone’s throw from bear territory mont blanc cufflinks replica india. In recommending defensive sectors, including the health sector .SPXHC in some instances, many strategists cited decelerating U.S. and global economic growth and the potential for higher market volatility..
And geopolitical issues such as U.S.-China trade tensions and Britain’s exit from the European Union could continue to weigh on U.S mont blanc cufflinks replica india. equities in 2019, investors said. However, U.S. President Donald Trump offered investors a ray of hope 2019 may offer less volatility when it comes to China, tweeting on Saturday that “big progress” was being made toward a possible trade deal between the two countries. Defensive sectors may also benefit from an expected slowdown in the pace of Federal Reserve interest rate increases in 2019..
Because of their higher dividend yields, defensive stocks are seen as bond proxies and do poorly when interest rates and bond yields are on the rise, as they were through much of this year. But the Fed is now seen throttling back on rate hikes, and benchmark 10-year Treasury yields US10YT=RR have retreated to around 2.75 percent, down by roughly half a percentage point from an early November high mont blanc cufflinks replica india. Robert Phipps, director at Per Stirling Capital Management in Austin, Texas, recently added a utilities position to his stock holdings, the majority of which are in growth sectors..
“There’s the income component, and it is actually among the few sectors that still has upside momentum,” he said. Cyclical and growth sectors are not entirely out of the mix mont blanc cufflinks replica india. For instance, RBC Capital Markets has “overweight” ratings on consumer staples and healthcare but also on financials .SPSY and energy .SPNY. Some investors argue it is too early to jump into defensive sectors with economic and earnings growth expected to continue, albeit at a slower pace. Safe havens are also looking pricey relative to growth stocks..