ECP | Luxemburg, 13.11.2020
The beginning of this week has been marked by a violent rotation out of Big Tech and so-called Covid-19 winners into the cyclical and value names. This move was triggered by promising trial results from an experimental Covid-19 vaccine developed by BioNTech and Pfizer. European equities have also started to perform noticeably better than their US peers and continue to recover some lost ground in terms of negative performance year-to-date. Strategists from big investment banks were quick to adapt their narrative.
Mit freundlichen Grüssen aus Luxembourg
Léon Kirch, CIO & Partner
