Fortunes for Mega- and Small-Cap Stocks Poised to Flip, Bank of America Says

(Bloomberg) — The wind is about to shift for the US stock market, if history is any guide, says Bank of America Corp.

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With equities in the “recovery” phase of the business cycle, this year’s laggards — including value and small-capitalization stocks — are primed to outperform, upending the growth, large-cap leadership that has dominated 2023’s bull run, according to strategists led by Savita Subramanian.

“Admittedly, the last few years have not felt…