Global Investment Strategy & AI (with Anna, Lizzy)

Erik Wytenus is positive on global equities, citing a sound economy and strong earnings growth led by the US. He sees the AI theme expanding into European enablers (power, data centers, industrials). He views the Fed's hawkish pivot under Kevin Warsh as a healthy restoration of credibility, which is bullish for the dollar but negative for precious metals. He advises looking through geopolitical noise and focusing on long-term private sector trends.

Yields

implicit

RUT

Oil

implicit

explicit

JPMorgan Private Bank 9.2
Investment Bank $3170.00B
Erik Wytenus 9.0

Global Investment Strategy & AI (with Anna, Lizzy)

dxy

It's very bullish the dollar.

2 calls

-4

no reliable edge (random outcomes)

3/16/2026 6:26:04 PM	short term up	6 days later	-0.63%	-0.63%
2/24/2026 12:51:39 PM	medium term cautious down	20 days later	+1.92%	-0.96%

metals

The guest explicitly states that a higher US real yield regime is 'bad for speculative assets that depend on weak dollar and lower real yields, precious metals are a perfect example.'

ndx

The guest is very positive on the AI theme and its earnings delivery, which is heavily concentrated in the Nasdaq. He sees the trade broadening but remaining healthy.

Erik Wytenus

The global economy is sound with a positive earnings cycle led by the US. Despite fragmentation and instability, there is positive business momentum and an innovation cycle. It is a good time to be well invested.
Erik Wytenus

The AI theme is expanding into enablers in Europe. The best plays are industrial companies providing power, infrastructure, and data centers (neocloud providers). The proof of concept for AI is visible in earnings delivery.
Erik Wytenus

Kevin Warsh's hawkish Fed is a healthy restoration of credibility. He is data-driven and focused on price stability. This implies a shift to a higher US real yield regime, which is bullish for the dollar and negative for speculative assets like precious metals.
Erik Wytenus

Geopolitical events (like the UK leadership change) tend to have short-term impacts. The best approach is to take a long-term lens and focus on what the private sector is doing on its own merit.

SignalTube

markets at a glance