This week in the podcast we runthrough our latest thoughts on positioning within the US equity market with aneye on longer-term trends through 2022, which has been the focus of ourconversations with investors in recent weeks. The big things you need to know:1) We expect the Growth/Value trade to stay choppy through 2022. Once currentpressures on the Value trade resolve (primarily COVID and growth concerns), wesee another significant outperformance trade in Value in the intermediate term,but suspect that will end up being the time to exit the trade. (2) As we startto get ready for 2022 outlook discussions, we are getting more balanced betweenValue/Cyclicals and Growth in our S&P 500 sector overweights. OurFinancials and Energy overweights remain, but we are lowering Materials fromoverweight to market weight. We are also lifting Tech to overweight from marketweight. (3) High quality leadership has returned to the US equity market,supporting our upgrade of Large Cap Tech.