Filmed on May 8th, 2026, Ryan Mumy and Justin Greenhill break down the most critical market trends affecting your portfolio. In this episode, they analyze:
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CPI has spiked back higher, driven by energy, raising the "higher for longer" inflation question all over again, just as markets were moving past the disinflationary narrative
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Hyperscaler AI CapEx is now approaching $800B to $1.1T for 2026 to 2027, with investors increasingly asking when the ROI materializes
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Despite fears that AI would kill software developer jobs, Indeed job postings for software engineers have actually ticked up, and the broader labor market is not breaking
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S&P 500 earnings continues to beat estimates at a healthy clip, with companies having grown into their previously stretched forward P/E ratios
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Discretionary investor positioning remains underweight relative to systematic strategies, suggesting the pain trade is still to the upside
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Near-term Bloomberg sentiment indicators signal the recent tech rally may be getting overdone, concentrated in semiconductors and AI names
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The 30-year Treasury yield is back at 5%, a level it has not sustained since pre-2008, and what happens next could reprice growth assets globally
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Emerging markets are outperforming for a second straight year, led by Korea and Taiwan on AI and memory demand, with Brazil showing its own idiosyncratic tailwinds
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WTI oil has settled above $90 post-Iran conflict, and the longer it stays there, the more cross-asset markets will have to price that new reality
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Gold and metals have consolidated significantly after a crowded run-up, and Ryan and Justin are watching whether risk appetite and rate expectations bring buyers back
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