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:
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
Hyperscaler AI CapEx is now approaching $800B to $1.1T for 2026 to 2027, with investors increasingly asking when the ROI materializes
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
S&P 500 earnings continues to beat estimates at a healthy clip, with companies having grown into their previously stretched forward P/E ratios
Discretionary investor positioning remains underweight relative to systematic strategies, suggesting the pain trade is still to the upside
Near-term Bloomberg sentiment indicators signal the recent tech rally may be getting overdone, concentrated in semiconductors and AI names
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
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
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
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