Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange (NYSE) on August 6, 2019.
Drew Angerer | Getty Images
Value is seeing the light of day finally.
A huge rotation out of momentum stocks is underway as investors pile on bets on economically sensitive, cheap stocks on renewed hopes for a U.S.-China trade deal. The ramped-up wagers on underpriced, cyclical stocks are supported by the view that interest rates have bottomed for now as sentiment around trade uncertainty improved. At the same time, investors are dumping those expensive growth stocks which they had used as a defensive play early this year.
Value “seems to have had a precipitous…