trump: Now President-elect Trump is making that rotation great again, according to Bloomberg. The pivot out of fixed-income was so steep in the week after the election that analysts had to reach for a slew of superlatives straight out of the future president playbook a massive rotation from bonds to equities is afoot, wrote Jefferies strategist Kenneth Chan, in a wording echoed by Citigroup analysts. Nevertheless almost a year ago their equity strategists boldly questioned the idea that rising interest rates could prompt a Great Rotation, a phrase first coined by Bank of America Merrill Lynch. Violent was how Bank of America described the switch a point their phrase bond bloodbath may have already rendered moot. By 7 59 a.m. in New York the the S&P 500 was trading at 2,187.12 up almost 3 percent since Trump win, and near an all-time high. Sure enough as the Republican victory stokes expectations of both higher rates and government spending, investors are coursing out of fixed-income funds at a pace not seen since mid 2013, selling a net 18 billion worldwide in the week from November 10-16. function global function ad Code markets/article dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; Meanwhile the 31 billion that flooded into equities in the same period was the single greatest rush ever, according to Chan calculations.
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