Jonathan Golub

This looks more like a reprieve for value than a longer-term trend, the real question for value is, 'Do you believe that interest rates will continue to go higher when all indications are that the economy will remain sluggish for the remainder of the year?'.

A lot of folks are hitting the panic button, and it's not really the right way to think about this. You have to look at what's really going on.

The market wants to see the economic conditions normalize. It's starting to think that something is broken here and it makes them uncomfortable.

If profits surprise to the upside, which is what I think they're going to do, that is basically going to convince people we don't have a negative growth problem, that things are better than feared, and that should be positive for stocks.

Financials are still extremely cheap relative to the market, while they've done well more recently, they've been lagging for a number of years.

You have many things working in favor at the same time.