Kantrowitz emphasizes that the key question is"when will breadth improve in the equity market." He highlights two significant periods of breadth surge: late 2022"when inflation started to come down" and the end of 2023"as the Fed pivoted." However, he cautions that for investors to maintain a bullish stance on equities,"you have to think breadth's going to continue to improve," noting that earnings will be the primary driver of this improvement.
And I think we've already had two surges in breadth, uh, already one in 20 the beginning at the end of 2022 as inflation started to come down the second surge in breadth at the beginning or the end of last year as the Fed pivoted. Michael, I want to end on the macro with you because I know you expect unemployment to continue to drive higher.Uh, we get from clients.
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