CIO calls a new phase in the market, says a ‘healthy’ rotation has begun

Traders work on the floor of the New York Stock Exchange. 


Stock markets have entered a new phase that will involve a broadening of last year’s bull market as big U.S. tech stocks come under pressure, according to the CIO of a Swiss private bank.

Charles-Henry Monchau, chief investment officer at Bank Syz, told CNBC’s “Squawk Box Europe” on Monday that last week marked the start of what will become a “healthy” rotation.

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