What’s Hot, What’s Not: Nothing Hot, Many Bets Off [Sector Edition]

What’s Hot

• Not much excitement in growth terms.
• Property shares modest recovery has been encouraged by rate cut hopes, similarly Sterling High Yield and the two European Equity sectors.
• Japan bounced after the early month “flash crash”.
• The Autumn should prove to be much more exciting!

What’s Not

• Hopes were dashed for those believing in a US small caps resurgence. Economic reality is casting a shadow.
• Commodities lost momentum, in the absence of a catalyst from China…
• …and China funds struggled for another month.
• Bets were also taken off high flying Tech and India sectors – both are very stretched.

What’s Hot

What’s Not