Analysis-US debt ceiling deal could stall safety flight fueling megacap rally

Published by
Reuters UK

By David Randall NEW YORK (Reuters) – A potential deal to lift the U.S. debt ceiling could spur money managers to pare holdings in the massive technology and growth stocks that have been havens this year and shift into the rest of the market, some investors believe. Strong balance sheets and predictable cash flows have made megacap stocks such as Google parent Alphabet, Microsoft Corp and attractive places to hide over the last few months as investors worried about everything from the debt ceiling to a U.S. banking mess. That has boosted their share price and buoyed market indexes, …

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