While the US equity market has been unusually strong since the US election, the tide has not lifted all boats.
In the period immediately after the vote, some sectors that had been faring well—such as Information Technology—reversed course and failed to participate in the rally. Others that had been underperforming—such as Financials—surged. And, finally, some sectors' returns seemed wholly unrelated to the election. Overall, these changes led to higher dispersion across sectors than we have seen in some time.