- Since mid-May, the global rallies in Value and Size factors have cooled, and Quality has staged a robust comeback.
- The burst in reopening optimism last fall spurred a sharp rotation from Quality into Value, which is more heavily weighted to cyclically sensitive industries poised to profit from a reflating economy.
- The Quality rebound has come amid signs that the best of the economic and corporate-earnings recoveries may be behind us, as well as the discernably more cautious tone in market sentiment.
For further details see:
Recovery Caution Revitalizes Flight To Quality