Communications services companies rose as investors rotated into sectors that would benefit from economic growth.

The bias for growth sectors reversed itself earlier this year after a spike in Treasury yields caused a reassessment of stock portfolios. But tech, communications services and biotech companies are once again outperforming the broad market.

This may not last, according to one strategist. "If the virus gets back under control and/or the data in the U.S. continue to show high economic growth and more persistent and higher-than-expected inflation, we expect bond markets to again sell off (driving yields higher) and the tech to cyclical trades to resume," said Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance, in emailed commentary.

Audiobook "The Bomber Mafia" is part of an effort by Pushkin Industries, an audio company that writer Malcolm Gladwell co-founded, to become a major provider of highly produced "original" audiobooks, which precede print versions rather than vice versa. 


 Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

04-23-21 1731ET