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Mensuel de janvier 2018 - Fonds / Bourse

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US equities : Is the momentum rally peaking ?
By Kasia KILADIS, Fidelity International*   In recent weeks, US momentum stocks have seen some big one day reversals while value stocks have seen opposite moves. Could this be an early sign of a longer-term adjustment in sentiment, moving away from momentum stocks towards value-oriented stocks? And what does it mean for global stocks?   Momentum, fast and slow   In the last few weeks we have seen some remarkably divergent moves in US momentum and growth stocks versus value stocks (chart 1). These moves are mirrored in global indices (chart 2). It is too early to tell whether the shift from momentum to value has staying power but the combination of economic growth, tax reform and less accommodative monetary policy could signal a shift in...
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