Great migration from growth to value
The guest argued that rising super core inflation and geopolitical conflicts are driving a structural rotation from financial assets to hard assets.
The argument
With super core CPI projected to reach over 5% by year-end, the guest believes growth stocks and passive indexes are highly vulnerable. Investors are expected to rotate into value companies that control physical resources like oil, gas, and materials.
The thesis, stress-tested
✓ What validates it
- ✓Russell 2000 outperforming the S&P 500 over a multi-month period
- ✓Super core CPI prints above 5% annualized
▸ Risks discussed
- ▸Inflation cools rapidly back to the Fed's target
- ▸Tech earnings continue to outpace value sectors, delaying the rotation
Hear it yourself
"And I'm Patrick Ceresna with the macro scoreboard week over week as of the close of Wednesday, 06/10/2026. The S and P 500 index down 379 basis points trading at seventy two sixty seven. We are seeing the first cracks in this bull advance as we're now testing the fifty day moving average. We'll take a closer look at that chart and the key technical levels to watch in the postgame segment. The US dollar index up 53 basis points trading at 100 spot o eight, attempting a key bull breakout. The July WTI crude oil down 624 basis points trading at 90 spot o three."
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