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What a low-key rotation into defensive sectors means for the stock market

Chris Matthews
What a low-key rotation into defensive sectors means for the stock market

Mike Wilson, chief U.S. equity strategist at Morgan Stanley, writes in a research note dated Sunday, that the 2018 market rally, subsequent correction and early-2019 recovery have masked the fact that since June, the defensive utilities, real estate and consumer-staples sectors have led the S&P 500 index on a total return basis.