MFS favours US large-cap tech, consumer, bank stocks

Singapore

THE biggest opportunity in markets now lies in large-capitalisation US stocks in the technology, banking and consumer-discretionary sectors, the chief investment strategist of a large Boston-based asset manager has said.

James Swanson, who oversees strategy for US$450 billion in assets at MFS Investment Management, said that this is because the business cycle still has a few more years to go in the most profitable economy in the world.

"This business cycle is more organic, sustainable and durable than other business cycles. I don't think we're nearing an episode of recession at this point," he said at a media briefing in Singapore.

"Comparing relative unit labour costs around the world, the US is winning the battle, and it'…