What “Great Rotation”?

What “Great Rotation”?

So by now you've all heard the "great rotation" theory. Hell, maybe you've even perpetuated the meme (because that's what it's become). The idea is pretty simple. As yields rise, investors will flee rate-sensitive assets and/or duration and head for equities. This is one argument for why stocks have further room to run despite sporting the highest Shiller P/E ratios since 1929 (ex. dot-com bubble). This has turned into something of an online shouting match between those who believe in the the
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