Nuveen’s CIO Sees Year-End US Stock Rally as Rates Fear Subsides
- Saira Malik suggests staying invested, but selectively
- CIO prefers tech, with eye on defensives like infrastructure
Saira Malik
Photographer: Joe Buglewicz/BloombergThis article is for subscribers only.
US equity investors should expect a year-end rally as rate hikes and bond yields peak, according to Nuveen Asset Management LLC’s chief investment officer.
“What you’ll get to as we go into year end is your typical Santa Claus rally,” Saira Malik said in an interview on Oct. 30, referring to the tendency of stocks to rise in the trading days around Christmas. “If geopolitical issues don’t broaden out to really impact oil prices significantly, then I think markets kind of rally into year end” and 10-year yields flatten out.