2 Bloomberg: #GoldmanSachs is pushing a basket that bets on strength in #commodities (inflation beneficiaries) and #defensivesectors like #healthcare (which should outperform in a weak #economy). At the same time, it’s short #consumer-discretionary, #semiconductors and unprofitable #tech #stocks 🧵

As we enter the month named after the Roman god of war, #GrowthSectors like the #SP500GrowthIndex, #CommServices, #ConsumerDiscretionary, & #Industrials are struggling, trading below their 10- & 40-week moving avgs. In contrast, #DefensiveSectors are outperforming MTD & YTD.

#DefensiveSectors⏫, while high-flying sectors saw⬇️due to unwinding of the #JapaneseYen carry trade & economic & earnings disappointments. In the week ahead, economic reports may not clarify much as soft readings for the July #PPI could be offset by #FlatToHigher #CPI readings.

#VIX #DefensiveSectors #PoliticalRisk

periods.

#VIX #DefensiveSectors #PoliticalRisk