Kim Bolton's Top Picks: September 20, 2023
BNN Bloomberg
Top picks from Kim Bolton, president and portfolio manager, Black Swan Dexteritas
FOCUS: Technology stocks
MARKET OUTLOOK:
We’re into the “dreaded” September and now that the market has consolidated the big rally from late spring through early summer. It has formed sideways patterns on several major indices and investors are trying to weigh the pros of stronger economic data against lofty valuations and the nagging inversion of the yield curve. However, when it comes to valuations the market isn’t necessarily as expensive as it may seem, but when it comes to the yield curve, there isn’t much positive to say. Historically, inverted yield curves and deeply inverted yield curves haven’t been particularly positive for equity prices (or ultimately the economy), so it’s hard to dismiss or play down its importance.
