The new opportunities formed by market 'dislocations'

Joel Mittelman, portfolio strategist at the Boston Company Asset Management, looks at the sectors and stocks that are most sensitive to rising rates

The year-to-date storyline with the US equity market is that while the S&P 500 rose a modest 1.2% through June 30, a significant number of US and non-US developments (both at the macro and micro levels) created a healthy, post-QE backdrop for US active-manager outperformance.   As we look ahead at the earnings-driven US equity market, we are excited about the attractive valuations and strong fundamentals of many US equities, both absolute and relative to European equities.   When combined with our optimistic economic forecast, we believe it bodes well for a sustained US equity-market ...