Markets broadly constructive due to economic outlook and investments in technology, infrastructure, energy, particularly in the US.

Level of asset prices pretty high, very difficult to find areas of undervaluation.

Geopolitical and macroeconomic uncertainties are creating the volatility we saw in the last four weeks.

In the tech sector, there are pockets of excess in terms of valuations.

Impact of technology and AI to society and business will be very profound, but from a financial standpoint, there is some reconciliation to be done in terms of timing of realizing economic value from this innovation.