Highlights
- Risk Gauge struggles to attain “Risk-On” despite new highs, reflecting a still fragmented market regime. While rare, this is not unprecedented.
- Bullishly positioned with net long exposure while actively shorting laggards within weak groups.
- A broad, tech-led speculative bubble is unfolding, with AI, energy demand, and other emerging innovation themes conspiring to trigger animal spirits.
- Leverage, deregulation, and a long-awaited IPO wave also. . .
