What’s Hot, What’s Not: Tech, Linkers, and UK Smallers Are Hot [Sector Edition]

What’s Hot

• Tech had a strong month, though not necessarily driven by the Mag 7
• UK linkers had a decent month…
• …is this the turning point after a torrid few years?
• UK smallers are moving noticeably vs big caps, triggered by rate cut expectations
• Asia edged up without much support from Japan and China
• Though some commodities drifted this month, there was enough positivity to move the sector up by more than 3%

What’s Not

• Unusually no sector went down in the last month, which is rare
• No sectors were notably poor, more a case of drift and pause

What’s Hot

What’s Not