What’s Hot? Hot, Not: Nothing Hot, China and Tech Certainly Not [Sector Edition]

What’s Hot

• Absolute Return sector did what it should do, not fall much
• In addition, it was a selection of four bond sectors which held up relatively well…
• … though don’t expect that to last, with rates looking like they will stay higher for longer, and recession warnings flashing.

What’s Not

• China took the biggest hit, matching the gloomy Western media…
• …and such reforms/ stimulus as occurred, were not deemed sufficient.
• Technology wasn’t far behind, despite the AI hype…
• …the Nvidia results were great, but doubts are emerging about valuations.
• Asia generally slipped, in line with China, and without support from Japan.
• European Smaller Companies featuring reflects growing concerns over a Europe-wide- recession.

What’s Hot

What’s Not