The Globe and Mail reports in its Thursday edition that in an era of financial markets monopolized by trillion-dollar tech stocks, it can be easy to forget the small-cap market even exists. The Globe's Tim Shufelt writes that it is still there, waiting for its moment to return. In recent weeks, several big-name market commentators have argued that moment is already upon us. It would be a good thing if they were right. Small-cap resurgences not only reflect growing economic confidence, they also make for healthier and more sustainable stock markets by spreading returns across a wider variety of names. The timing of such turning points is highly uncertain. Much has to fall into place on the macro front. "Everybody wants this to work," said AGF's Mike Archibald. "But for small caps to outperform, you need the economy to be resilient, and you need interest rates to come down meaningfully." Those are two big ifs. On both counts, however, the past month has given investors reasons to hope. U.S. data on consumer prices for October showed core inflation, which excludes the volatile food and energy sectors, had slowed to an annualized pace of 2.4 per cent and the U.S. economy continues to defy predictions of a recession.