Health stocks in about down about 10% across the board. Seen as "defensive" stocks.
Managers who develop their portfolios are switching out their defensive stocks with US bonds, which have an increasing yield rate making them more attractive.
ie: macro conditions going on here.
Not sure when the bond noise will finish? Who thinks bond rates are going higher?
http://www.theaustralian.com.au/bus...e/news-story/1302e69d63c2516a5113ef0d2832a7d1
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