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EPS: Less "bad" is good = inflection for fundamental equity investors = "buy the dip" returns. Week ahead light on macro data and still game of inches.

NEW: Notice new section (below): added so you can see our tactical ideas

In our view, last week added to the constructive case for stocks in 2023. The S&P 500 itself churned and remains in a range, fighting a "game of inches" but underneath this, we believe the arguments for stocks to gain in the remainder of 2023 strengthened.

The gap between our relatively constructive view on stocks and the outright caution of our institutional investor clients is one of the largest we ...

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