Wilson Sticks To Big-Cap Bias Amid History-Making Small-Cap Rally

The dramatic rotations in US equities witnessed over the past couple of weeks are primarily a positioning shakeout and don't suggest a regime shift in favor of lower-quality names. That's according to Morgan Stanley's Mike Wilson, whose latest weekly largely reiterated familiar talking points. "We have long been in the camp that large-cap quality has been the place to be for equity investors as opposed to diving down the quality and cap curves," he said Monday. "That continues to be the case."