Global stock investors may be excited with gains this week but the rally is looking like a run for defensive plays rather than a risk-on roar.
A Goldman Sachs Group Inc. index of defensive stocks including megacap tech and healthcare names has climbed to more than an 18-month high relative to the MSCI AC World Index, as fears of a global recession outweigh concern over sky-high inflation. The gauge has jumped over 4% this week, double the rise in the global stocks benchmark -- itself on track for its first weekly gain in four.
