Wilson Goes For Quality As ‘Highest-Probability Winner’

In the latest Weekly, I asked if good news was good again. The context was US stocks' ascent to new records in the face of upbeat macro data, rising bond yields, fading odds of a March rate cut from the Fed and less aggressive pricing for aggregate 2024 cuts. "In the absence of conclusive evidence that inflation is re-accelerating in earnest, good macro data is evidence to support the soft landing narrative, and that’s good for equities," I wrote, summarizing a kind of generic, glass half-fu