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Dear Jay: move slowly. Sincerely, the bulls.

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The S&P 500 has risen at more in year one of slow easing cycles than in fast easing cycles, on average. Growth has outperformed Value after first cuts, especially during slow cycles. Small-caps have underperformed large-caps before the first cut, but have outperformed after, especially during slow cycles.

Ned Davis Research | Equities | U.S. Focus | Weekly

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