Mike Wilson

I mean, it's not just going to be semiconductor companies.

There's a lot of infrastructure.

There's a lot of job creation.

There's a lot of velocity in the real economy.

And the lending channel starts getting going, perhaps for small, medium businesses, that job creation.

Deregulation is another part of that story.

So absolutely, that's what should happen if things play out the way they could.

Now, there's risk to that.

Let's say the Fed continues to say, hey, we still think there's inflation risk.

We don't like the inflation rate at 3%.

We're not going to raise our targets there.

And then we just kind of drag their feet.

It's going to stay narrow then.

It's going to stay up the quality curve.

And that's where we are right now, Lisa, is that people basically are trying to choose between those two outcomes.

And I would say right now, most of the institutional community is still huddled into the high quality stocks.

They haven't really made the transition yet.

Have you?

Well, we have in some of our guidance.

Yeah, absolutely.