New Delhi, Nov. 7 -- The US midterm elections could accelerate the ongoing rotation in stock markets, with the healthcare sector emerging as a potential defensive investment, according to Lou Miller, Global Head of Custom Basket Trading at Goldman Sachs.

Speaking on Goldman Sachs' The Markets podcast, Miller highlighted that investors had already begun shifting towards defensive positions before the midterm elections, amid a challenging environment for active investors during the second half of 2026.

"We've seen people get very defensive. If you look at beta-adjusted net exposure in our prime book, it's definitely at very low levels versus history," he said.

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