The Bond Market Is Starting to Rewrite the Bull Case
Rising bond yields are forcing the equity bull case to rely less on cheaper money and more on sustained earnings growth.
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Rising bond yields are forcing the equity bull case to rely less on cheaper money and more on sustained earnings growth.
The BoJ raised rates in the fastest tightening cycle since 1990, but two dissenters add a dovish spin and the Nikkei's outlook relies more on the AI boom than monetary policy.
Strong earnings are keeping the bull market alive, but rising oil, near-5% Treasury yields and doubts over AI returns are leaving far less room for disappointment.
SPX500 maintains its upside bias but its trajectory will be shaped by key events this week, including Oracle earnings, oil prices, the CPI print and the deficit update.
The SPX500 rally stalls as markets look to Nvidia earnings, PCE update and Warsh speech - events that can shape its trajectory and fuel volatility.
The index maintains its momentum after last week's records as markets price in a hold next week and the earnings season has been favourable, but risks linger.
The stock market rally has been all about mega-caps, but small caps are quietly starting to show up.
The GER30’s global giants are powering it to record highs, but stretched momentum suggests the bulls may need a breather.
The tech-heavy index is on track for new records fuelled by the AI boom, but a negative market reaction to the latest AI earnings weighs today.
JPN225 offers investors far more reward for taking equity risk than SPX500, but that advantage comes with heavy exposure to technology, semiconductors and AI.
The index drops as worries over the AI and memory trade persist despite strong earnings from HBM maker Samsung, with focus now shifting to the incoming SK Hynix US IPO and the Nasdaq100 inclusion of SpaceX.
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