Thomas Lee, Fundstrat Global Advisors
Scott Mlyn | CNBC
Fundstrat’s Tom Lee said the recent cut in interest rates means that investors should move part of their portfolio.
The 10-year Treasury yield traded below 1.5% on Friday, despite a 5% rise in inflation last month from a year earlier. Earnings exceeded 1.7% earlier this year, raising concerns about the direction of the stock’s rally, as higher rates could drive up costs for companies and reveal strong valuations in the sector.
Lee, who gained a large following in 2020 for his analysis of the pandemic and its associated market challenges, said in a note to a client Friday that lower interest rates mean some of the industry trends in the market that took place earlier this year. must turn back. in the coming weeks.