全球股票策略：将医药板块上调至超配，作为多元化配置标的-Global Equity Strategy_ Upgrade Pharma to overweight as a diversifier

ab 6 March 2026 Global Research Global Equity Strategy Upgrade Pharma to overweight as a diversifier Many investors are looking for diversifiers amid Middle East tensions. Bonds (as seen during Ukraine or Liberation Day) are not diversifying. This leaves gold (where we are overweight but the 10-year forward inflation breakeven has hardly altered in the past year, suggesting that gold is driven more by geopolitical events than the threat of monetisation of debt), defence stocks (where we are benchmark) and e ...