Continued focus on high-quality companies to pay off despite potential cyclical rally
Firms likely to re-rate, says Columbia Threadneedle's Davies
William Davies of Columbia Threadneedle
Any post-coronavirus rally for those cyclical stocks able to survive the crisis will be "difficult to sustain" in a continued low growth, interest rate and inflation environment, according to Columbia Threadneedle's CIO William Davies.
One of the defining features of the coronavirus market sell-off seen in risk assets through late February and March, Davies said, was that market leadership changed little, with those stocks with higher-quality...
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