UBS Trading Desk Says Buy Momentum Stocks as Selloff Nears End
UBS's trading desk, led by Michael Romano, said the momentum stock selloff is close to ending and advised phasing back into AI and semiconductor names rather than buying all at once. Hedge funds have cut long exposure to momentum and semis by roughly 5% of market cap, and UBS expects the de-risking to bottom out by the end of July.
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