The rise of the under-owned sectors

In the U.S. stock market, sectors most sensitive to falling interest rates are currently underrepresented by investors. This under-ownership is assessed by comparing each sector's market capitalization relative to the overall market cap of the S&P 500 and its average sector weight throughout the 20th century. As interest rates decline, under-owned sectors such as materials, utilities, and energy are likely to benefit, while over-owned sectors like technology, finance, and healthcare could face headwinds.