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2 Sectors to Play Amid Rising Rates

The stock market is adjusting to upcoming shifts as the case for monetary easing appears to be ebbing, JPMorgan Funds Global Market Strategist Andres Garcia-Amaya said Monday.

"I think the training wheels are coming off," he said. "Either September, December, and eventually interest rates are going to go up, and I think the market is readjusting to that reality."

On CNBC's "Fast Money," Garcia-Amaya said that a couple of sectors would continue to perform even as interest rates climb.

(Read More: 'Still Too Early' for Stocks: Stephen Weiss)

"I think banks will do OK, industrials will do OK," he said.

Garcia-Amaya added that banks had "not been lending because they can't make money" in a low-interest environment.

In the meantime, he said, avoid bond-proxy stocks and stay out of cash.

Garcia-Amaya also noted the fall of commodity prices.

(Read More: Alternatives for a Volatile Market: Pro)

"That's good for industrials," he said. "That's their input costs, so they might actually benefit."

Trader disclosure: On June 24, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Weiss is long THC; Steve Weiss is long C; Steve Weiss is long BAC; Steve Weiss is long AIG; Steve Weiss is short X; Steve Weiss is short CAT; Stephanie Link is long AAPL; Stephanie Link is long JPM ; Stephanie Link is long GS; Stephanie Link is long CSCO; Stephanie Link is long FB; Stephanie Link is long EBAY; Stephanie Link is long HD; Stephanie Link is long WFC; Simon Baker is long AAPL; Simon Baker is long BAC; Simon Baker is long GS; Simon Baker is long YHOO; Simon Baker is long FB; Simon Baker is long RF; Simon Baker is long PHM; Simon Baker is long F; Simon Baker is long THC; Simon Baker is long HD; Simon Baker is long MU; Jon Najarian is long CAT; Jon Najarian is long HALO; Jon Najarian is long EA; Jon Najarian is long UVXY; Jon Najarian is long TOL; Jon Najarian is long TIVO; Jon Najarian is long PAAS.

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