Wells Fargo's Cronk Says Time to Play Defense in Fixed Income

The video discusses the current state of equities, focusing on cyclicals like financials and consumer discretionary sectors. It examines the impact of interest rates on equities, particularly the potential for a 3% 10-year yield. The analysis includes market trends, such as the importance of the 200-day moving average. The discussion shifts to the transition from monetary to fiscal policy, highlighting recent tax reforms and budget deals.

What are the key sectors mentioned that are expected to drive top line revenue growth?

What assumptions are being made about interest rates in relation to equities?

What is the significance of the 200-day moving average mentioned in the discussion?

How is the narrative around monetary policy changing according to the discussion?

What impact does the speaker suggest fiscal stimulus might have compared to monetary stimulus?