We discuss which variables we are tracking to assess the risks to the bull market in the absence of government data. So far, we do not see any obvious red flags. Remain overweight on equities and fixed income.
Fresh off a month of boning up on all things AI, we walk through a high-level Q&A discussing AI capex and how much the AI investing boom is really contributing to US growth.
The rush to build AI infrastructure is based on a false premise: that there are significant advantages to being the first to come to market.
Precious metals, corporate credit, and tech stocks are all showing signs of late-cycle euphoria. We identify various trigger points that investors should monitor to turn more bearish.
The most significant divide in the stock market and the economy is the gap between companies positioned to benefit from the AI boom and companies without a link to it. The former are surging while many of the latter are struggling.
Our US Equity strategists see further room for the bull market to run, supported by solid GenAI-driven earnings growth, though a period of consolidation is likely. Broad adoption and monetization of GenAI, coupled with falling…
Broad GenAI adoption and monetization, alongside falling inference costs, should make hyperscalers’ and enterprise investments worthwhile. While the GenAI boom echoes the dot-com era, it differs in key ways: Valuations are elevated…
AI adoption momentum has cooled recently among the largest US companies, although firms of all sizes still expect to increase their usage over the next six months. Our Chart Of The Week comes from Miroslav Aradski of BCA…
In this Q4 Strategy Outlook, we discuss where we stand on our recession call, the outlook for stocks and bonds in various scenarios, why investors are misunderstanding the impact of AI on corporate profits, whether the US dollar has…