Summary
This document is a report titled 'Strategic Sector Selector' from the Global Market Strategy Office, dated April 2024. It outlines the current state of global equities and sector allocations in light of recent economic data and market performance. The report indicates that global equities experienced a rally in Q1 2024, driven by large-cap stocks, despite a decrease in market breadth. It discusses expectations for global growth moderation and potential consolidation in equity markets. The report details changes in sector allocations, upgrading basic resources, retailers, and financial services while downgrading media, real estate, and insurance. It highlights sectors anticipated to yield the best returns, including retailers, food and beverage, and healthcare, while providing insights into market forecasts for central bank rates and bond yields. The document includes a valuation matrix and various appendices that detail methodology and sector performance data.
