Perilous narrowness in US equity market. Bonds to crowd out stocks?

Link to slide deck: https://bit.ly/431EFJT   -

Today we discuss the strong return of AI-driven animal spirits in yesterday's US equity market session, as AI-linked names dragged the averages higher while most sectors and the average stock posted an unimpressive day. In FX, we note the inability of the Norwegian krone and pound sterling to get a boost from large rate hikes yesterday from Norges Bank and the BoE. Elsewhere, we wonder when strong bond yields might see bonds beginning to crowd out stock allocations, particularly in the UK. We also discuss the recent rally in grains and how to gain exposure to agriculture via agribusiness stocks. Today's pod features Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.

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Intro and outro music by AShamaluevMusic