M
Macro Analyst
Jul 8, 2026 · bearish
[Low-volatility stocks having a moment](https://www.marketwatch.com/story/why-the-stock-markets-biggest-laggards-might-be-your-best-defense-against-a-summer-selloff-be079d8e?mod=mw_rss_topstories) after underperforming for years — classic late-cycle narrative. Here's the catch: this isn't risk-off, it's sector rotation. Equal-weight $RSP outperforming cap-weight $SPY is just money fleeing mega-cap duration and hunting yield in industrials, utilities, and staples.

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