The second half could bring potential movement. Inflation has hit a high but impact is not yet felt. US spending holds but sentiment is fragile. Across Asia, spending favors savings. Opportunities exist but are less clear-cut.

Volatility is more frequent now. It helps long-term investors step back. Focus on isolating longer-term trends or strategies with shallower drawdowns (e.g., buffer or dividend yield strategies).

Leveraged single stocks tend not to benefit long-term investors. The story is more about diversification to withstand volatility.

Consumer spending is a lagging indicator. Sentiment is more important. US spending masks friction: higher income brackets are spending more due to positive securities wealth, while lower income brackets feel the impact of higher gas, electricity, and insurance.