Kit Juckes argues the Fed will eventually need to hike rates as the US economy outgrows the rest of the world, but the bar is high for now. He sees ECB rate hikes as a mistake in a weak growth environment, making the dollar more attractive than the euro. De-dollarization is marginal.

Meme sees AI demand showing no signs of slowing down, calling it a land grab in early innings. She highlights massive capex from big tech ($600-700B) and questions when ROI will be asked. The Anthropic IPO at a trillion-dollar valuation will be a key test for the entire AI stack.

Monica Desenser advises staying invested in the AI supercycle but being selective. She sees value in both public and private markets, notes earnings and margins expanding beyond tech, and highlights financials and healthcare as sectors that could benefit from AI. She warns portfolios may not be built for higher and more volatile inflation.