T. Rowe Price's Vohora: 2021 has seen a shift towards value

Given the unprecedented nature of the coronavirus pandemic, the strong recovery in US economic growth during 2021 has been remarkable. The US equity market has similarly rallied sharply, surpassing previous peak levels in just a few quarters, with some companies posting close to best‑ever earnings results in early 2021. One of the dominant market themes to emerge in late 2020 and continue into early 2021 was the sharp swing toward value companies at the expense of more richly priced growth‑oriented stocks. More recently, however, the strong impetus behind value companies has moderated, w...