🏦 The Odd Couple of 2026: Cyclicals and Defensives Rally Together
BlackRock notes that cyclical and defensive stocks have rallied in tandem through 2026, an unusual pairing reflecting investor uncertainty about how durable AI-driven growth really is. The firm frames this as a 'barbell' setup: capture AI infrastructure upside while hedging a slowdown. For allocators, it signals broadening market participation beyond mega-cap tech and supports diversified equity exposure into H2 2026.
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