Why The Rotation Into Health Care May Have Room To Run

The report highlights a structural rotation into the health care sector, driven by increasing adoption of obesity treatments and favorable valuations. It also cautions investors against betting on further yen weakness due to intervention risks.

Key Takeaways

• 1.Recent rotation into the health care sector is seen as structural rather than defensive, supported by obesity drug adoption and aging demographics.
• 2.The Japanese yen has hit its weakest level since 1986, but analysts caution against chasing further depreciation due to intervention risk.

Table of Contents

• From Circle One
• Thought of the day
• What to watch: 1 July
• Caught our attention
• Market update
• Global asset class preferences definitions
• Appendix

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