this is the reason why strategists are bearish. when you make an outlook call at the beginning of the year and you call for a broadening out trade. I've watched a lot of ex people be bragging because they were long Europe short the US. All of these different things. Well, that's completely unwind now because rates and oil have gone higher and the weak have been basically underperforming. But also the AI trade continues to defy the doubters. This red line here is chat GPT. This is equal weight S&P relative to S&P. You are talking to someone who believes that all
Well, that's completely unwind now because rates and oil have gone higher and the weak have been basically underperforming.