According to CNBC, investors said the Federal Reserve's quarter-point rate increase and hawkish tone prompted a sell-off and led them to look for opportunities in parts of the market they see as underappreciated. Allan Boomer, chief investment officer at Momentum Advisors, said he is buying Treasurys and municipal bonds as the benchmark 10-year Treasury note yield hit 5%, while Brian Joyce of Lighthouse Investment Group said he prefers short-duration bonds and would avoid intermediate- to long-duration exposure. UBS managing director Jason Katz said cyclicals, especially major money-center banks, could benefit from higher rates, and he also said the hike could encourage companies to raise debt or pursue M&A. Tad Fallows, founder of Long Angle, said members of the investor group are most bullish on large-cap stocks, with a flash poll showing 53% of 90 respondents saw the biggest upside in tech, followed by energy and utilities. R360 founder Charlie Garcia said higher rates will pressure mortgages, credit-card borrowers, corporate refinancing and private-equity firms, while Barbara Goodstein said members are focused on financials and are holding off on adding gold.