Monday's relief rally in equities offers an opportunity for investors to rotate into defensive assets, according to researchers at UBS.
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Global markets are wobbling, leaving investors questioning whether to sit tight, rotate into defensives, or raise cash.
Europe is cheap compared to the U.S., and UBS sees the region's earnings backdrop as firmer and more dependable than in the past.
The investment bank recently highlighted several S&P 500 defensive stocks, all of them rated a buy at UBS.
