Where not to invest as the Fed raises rates

Anticipation is growing that the US Federal Reserve will begin raising interest rates in December this year. Should this be the case, it will mark the start of the first rate rising cycle in over a decade. Indeed speculation around when the Fed will start raising rates has become a market fixation. But why? Chad Slater, joint Chief Investment Officer at Morphic Asset Management, says the history of US interest rate cycles sheds some light on why the market is so obsessed with the Fed's next move. In this short interview he uses history to illustrate three reasons the market is justifiably focused on this move and also shares the places he would and would not want to be invested as this cycle commences.