First American

Dow’s 2023 Gains Are Wiped Out as Bond Yields Rise

"Jerry Braakman, chief investment officer of First American Trust of Santa Ana, Calif., said he has been looking for bargains among healthcare and energy stocks, which trade at lower prices relative to future earnings than the big technology stocks that had fueled this year’s rally. But the firm has also beefed up its allocation to cash. 

“Cash pays you at the moment and keeps some dry powder to buy into an equity-market swoon,” he said. “No one gets fired for holding cash”(Wall Street Journal). 

Read more about the effects of the recent bond selloff and how investors are reacting in the full article by the Wall Street Journal.

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