Strategists at Ned Davis Research predict the S&P 500 will outperform bonds and cash in the second half of the year, even amidst economic uncertainty. Their analysis outlines three potential growth scenarios, with their primary forecast anticipating a 'muddle-through' environment. This suggests moderate growth with persistent challenges, favoring equities over fixed income assets. Investors are advised to consider this outlook when rebalancing portfolios and making investment decisions for the remainder of the year. The firm emphasizes that while risks remain, the S&P 500 offers a more favorable return potential compared to bonds and cash equivalents.