I think people are looking for good value in the market and they're finding it in 'old economy' stocks. What these companies have in common is they're all viewed as great companies at a strong price that are not dependent on a slow economy.
I'm hopeful that we're nearing the end of this series of tightening. I don't think we have a serious inflation problem. With strong productivity, unit labor costs are under control.
There's cautiousness about the interest-rate outlook --- a bit of consolidation after very strong gains.