In from the cold: Are cyclicals back in favour?

In the years following the financial crisis, people were scared. They hunkered down and guarded their portfolios using defensive stocks, those which provide a constant dividend and stable earnings regardless of the state of the overall stock market. But times are changing. Firstly – the temporary blip of the current US government shutdown aside – the world's biggest economy is back on track and growing again. This is good news for the rest of the world, and indeed it is the same story for the UK and other developed markets, according to the International Monetary Fund (IMF). Second...