If Inflation Is Coming, These Stocks Will Benefit the Most

Barrons2021-02-23

Investors have been eyeing the threat of rising inflation.Fortunately, there’s a playbook for higher inflation. Inflation expectations have risen robustly in the past several months. According to data...

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精彩评论

sstrings
2021-02-23
sstrings
Smaller capitalization value stocks aren't trading at those exorbitant valuations and might be a better way to play the inflation trade.
雕楼玉砌
2021-02-23
雕楼玉砌
不是如果通胀来临，而是通货膨胀已经来临了
Bobthebuild
2021-02-23
Bobthebuild
Interesting
- Nickeando:
  Y
AlvinTing
2021-02-23
AlvinTing
Reply to my comment pls
- PYCHUA:
  replied as per requested
- Nickeando:
  Replied

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According to data...</p>\n\n<a href=\"https://www.barrons.com/articles/if-inflation-is-coming-these-stocks-will-benefit-the-most-51613997007?siteid=yhoof2\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RTX","symbol_name":"雷神技术公司","start_time":0,"source_url":"https://www.barrons.com/articles/if-inflation-is-coming-these-stocks-will-benefit-the-most-51613997007?siteid=yhoof2","article_id":"1105400565","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1105400565","pubTimestamp":1614050319,"columns":[],"sourceInfo":{"source_id":"lsy1601382232898","name":"Barrons"},"weMediaInfo":null,"summary":"Investors have been eyeing the threat of rising inflation.Fortunately, there’s a playbook for higher","collect":0,"end_time":0,"defaultTopTitle":"barrons.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"RTX":"雷神技术公司",".DJI":"道琼斯","BA":"波音","XLI":"工业指数ETF-SPDR","LMT":"洛克希德马丁","KBE":"银行指数ETF-SPDR KBW",".IXIC":"NASDAQ Composite","MMM":"3M","XLE":"SPDR能源指数ETF",".SPX":"S&P 500 Index"},"translate_title":"如果通货膨胀来临，这些股票将受益最大","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"BA":0.9,"KBE":0.9,"LMT":0.9,"MMM":0.9,"RTX":0.9,"XLE":0.9,"XLI":0.9},"content_text":"Investors have been eyeing the threat of rising inflation.Fortunately, there’s a playbook for higher inflation.\nInflation expectations have risen robustly in the past several months. According to data from the St. Louis Federal Reserve, investors currently expect inflation to run at above 2% for the next 10 years. With inflation expectations up, the 10-year Treasury yield has risen to 1.37% from 0.67% since Sept. 23, the beginning of a rally in riskier assets that benefit from a strengthening economy.Expectations for trillions of dollars of fiscal stimulusand further economic reopening spurredby the vaccine rolloutare driving the market movements.\nThe higher inflation forecast is causing some anxiety for stock investors, though.Momentary spikes in long-term Treasury yields pressure equity valuations A higher risk-free rate of return makes stocks less attractive. But inflation often reflects strong economic demand, which provides a major boost to near-term earnings.\nIf the economy begins a fresh expansion, these dynamics favor cyclical and more economically-sensitive stocks. Financials, energy and industrial sectors would benefit the most. For banks, loans are more profitable when long-term rates are higher. Demand for oil and other energy sources increases during expansionary times because manufacturers and consumers consumer more during these times. Industrials typically increase production to supply projects tied to business and consumer spending during times of expansion.\nAccording to data from Evercore strategists, the financial sector sees the highest degree of outperformance against the S&P 500 when long-term yields rise. The energy sector is the second-best performer and industrials are the third-best. The sectors least correlated with higher interest rates are defensive ones, or those which have revenues and earnings that are less influenced by economic demand. Utilities and consumer staples, for example, don’t perform as well during inflationary times.\nIndeed, the SPDR S&P Bank ETF(ticker: KBE) is up 71% since Sept. 23, trouncing the S&P 500’s 21% gain. Mid-September marks the beginning of a fresh rally in riskier assets like stocks and move higher in inflation expectation. The Energy Select Sector SPDR ETF(XLE) is up 53% since then, with the Industrial Select Sector SPDR ETF(XLI) exhibiting a move in-line with the broader index. Four of the top 10 holdings in the industrials fund—Honeywell(HON),Raytheon Technologies(RTX),Lockheed Martin(LMT) and 3M(MMM)—have heavy exposure to the rather defensive areas of aerospace and defense and medical products, which may weigh on the fund’s performance. But the highly cyclical industrial stock Boeing(BA), for example, has beaten the S&P 500 by nearly twice as much since mid-September.\nAnalysts expect stocks in all of these sectors to see continued earnings momentum through 2022. But industrials and energy stocks trade at substantial valuation premiums to the S&P 500, according to FactSet data.Smaller capitalization value stocks aren’t trading at those exorbitant valuations and might be a better way to play the inflation trade.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":369538295,"gmtCreate":1614056405917,"gmtModify":1634551363277,"author":{"id":"3574987678325918","authorId":"3574987678325918","name":"sstrings","avatar":"https://static.tigerbbs.com/6acf49a449cae71bafd3be75393bce04","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574987678325918","authorIdStr":"3574987678325918"},"htmlText":"Smaller capitalization value stocks aren't trading at those exorbitant valuations and might be a better way to play the inflation trade.","listText":"Smaller capitalization value stocks aren't trading at those exorbitant valuations and might be a better way to play the inflation trade.","text":"Smaller capitalization value stocks aren't trading at those exorbitant valuations and might be a better way to play the inflation trade.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369538295","repostId":1105400565,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369530620,"gmtCreate":1614056068960,"gmtModify":1614056068960,"author":{"id":"217525843307394","authorId":"217525843307394","name":"雕楼玉砌","avatar":"https://static.tigerbbs.com/967ce50094d4353fcf354b95214ac6db","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"217525843307394","authorIdStr":"217525843307394"},"htmlText":"不是如果通胀来临，而是通货膨胀已经来临了","listText":"不是如果通胀来临，而是通货膨胀已经来临了","text":"不是如果通胀来临，而是通货膨胀已经来临了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369530620","repostId":1105400565,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":369277684,"gmtCreate":1614054030948,"gmtModify":1634551378453,"author":{"id":"3576052661337683","authorId":"3576052661337683","name":"Bobthebuild","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576052661337683","authorIdStr":"3576052661337683"},"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/369277684","repostId":1105400565,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3637726,"gmtCreate":1614054175349,"gmtModify":1635762021097,"authorId":3574931340480508,"author":{"id":3574931340480508,"idStr":"3574931340480508","authorId":3574931340480508,"name":"Nickeando","avatar":"https://static.tigerbbs.com/949cb99f55161bbf42890e5fd6aefb02","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":369277684,"type":1,"supId":0,"prevId":0,"content":"Y","text":"Y","html":"Y"}],"langContent":"EN"},{"id":369256026,"gmtCreate":1614050815465,"gmtModify":1634551390130,"author":{"id":"3573353671865836","authorId":"3573353671865836","name":"AlvinTing","avatar":"https://static.tigerbbs.com/ed0f901d5fc162b9425bee2ba85b397f","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3573353671865836","authorIdStr":"3573353671865836"},"htmlText":"Reply to my&nbsp;comment pls&nbsp;","listText":"Reply to my&nbsp;comment pls&nbsp;","text":"Reply to my comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/369256026","repostId":1105400565,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3637394,"gmtCreate":1614050877060,"gmtModify":1635762031055,"authorId":3576900825805492,"author":{"id":3576900825805492,"idStr":"3576900825805492","authorId":3576900825805492,"name":"PYCHUA","avatar":"https://static.tigerbbs.com/7984deb1539a8169f76cb68052224a36","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":369256026,"type":1,"supId":0,"prevId":0,"content":"replied as per <u>requested</u>","text":"replied as per <u>requested</u>","html":"replied as per 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