Group 1 - The consensus trade for 2025 is to "stay up in quality," indicating a preference for firms with strong balance sheets and high free cash flow amidst elevated interest rates and challenging conditions for indebted companies [1] - There is bullish sentiment on Wall Street, suggesting optimism about market performance despite the economic challenges [1] Group 2 - The focus is on high-quality firms outperforming lower-quality firms due to their financial resilience in a tough economic environment [1] - The article emphasizes the importance of analyzing macro drivers of various asset classes, including stocks, bonds, commodities, currencies, and crypto [1]