Evidence suggests that the economy is past its downturn and is poised for a rebound throughout 2024. Leading economic indicators show a significant upturn, pointing to an acceleration in growth. This analysis indicates an expansionary phase, which historically favors risk assets and aligns with the recent market strength in stocks and commodities. However, investors should be aware of overpricing in certain market sectors and consider rotating into more cyclically sensitive areas that are poised for further growth as the economy expands.