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瑞银六月投资提醒:市场看似盘整,这些因子轮换机会别错过!黄金七月会起飞!
Sou Hu Cai Jing· 2025-06-18 09:31
Group 1 - June is typically a month of consolidation across various asset classes, including currencies, commodities, and stocks [1] - Historically, the S&P 500 index shows a slight increase of 0.2% in June since 1950 [2] - The first week of June tends to perform strongly, stabilizing in the middle of the month, and then declining towards the end [4] Group 2 - June has been identified as a month with significant factor rotation, with quality, momentum, and size factors performing well, while value factors lag [8] - If seasonal patterns hold, June is expected to favor high-quality large-cap growth stocks, which are positioned at the intersection of all factor tilts [10] Group 3 - The European quality factor may rebound in June, as seasonal factors support long/short quality factor strategies [11] - The healthcare sector has historically performed well in June, with an average increase of 0.8% relative to the S&P 500 index [13] Group 4 - The biotechnology sector is particularly strong seasonally, suggesting that going long on the biotechnology index (XBI) may be the best strategy for the healthcare sector in June [15] - Historically, gold performs poorly in June but marks the end of a seasonal downturn, with significant improvement expected in July [15][17]