Bloomberg Surveillance · Monday, July 13, 2026
An analyst notes that the US economy's demand impulse is distinct from Europe's, largely driven by capital expenditures for hyperscalers and AI. This AI-driven growth, he explains, accounts for a significant portion of US economic activity and influences market pricing.
“The US, the FED is a bit different, so you know where there's more of a demand impulse in the US, and you're driven by the kapex for the hyper scalers and the light driven by the AI view that you don't see in Europe.”
“I think less about the new normal and the straight of music fact to decompose and just ballpark numbers out the air probably twenty percent of most from the straight of hormus and remaining eighty percent from the capex trade in the US from the AI trade, because that's still what again is separating the US from the rest of the world.”