Forward Guidance · Friday, July 3, 2026
The narrative of economic reacceleration, previously driven by AI, is now facing challenges as AI-related stocks show weakness. This comes at a time when inflation and labor data suggest a potential economic slowdown, creating a 'dicey' setup for the market.
“Um, and now you're reaching this crescendo, what I think is peak growth and peak inflation for the economy.”
“At a time when the AI trade is kind of showing some of the bigger cracks that it hasn't in a very long time.”
“And so, that's why the setup to me is is very dicey because everybody's piled into the economic reacceleration trade, whether you're an AI bull or you're not.”