I don’t know what started the rotation but notes like this one will only accelerate it.
Tax cuts are halfway priced into the stock market, J.P. Morgan says
By William Watts
Published: Dec 4, 2017 6:54 p.m. ET
In a Monday note, the analysts said tax cuts were around 50% priced into the stock market. That gives the S&P 500 SPX, -0.11% room to run to 2,800 by “early next year,” they said, while also urging clients to “fully” rotate into value stocks from their current “barbell”-type portfolio made up of a combination of growth and value stocks they’ve held since the third quarter.