The major indexes may be kicking off the month in rally mode, but PNC Financial’s Amanda Agati sees trouble under the hood.
She believes the rotation into economically sensitive market groups from stay-at-home plays is overdone.
“The value side of the equation — that ‘go outside’ trade — has really moved way too far and way too fast for where we are at this stage of the reopening,” the firm’s managing director and chief investment strategist told CNBC’s “Trading Nation” on Monday.
Agati finds the move into value stocks first gained momentum in November due to optimism surrounding the efficacy of Pfizer‘s vaccine.
“We’ve seen this massive sentiment shift,” Agati said. “But at the end of…