Jim Caron argues we are in a higher nominal GDP regime (6.1% YoY), which puts upward pressure on yields and keeps inflation above target. He recommends being underweight duration and overweight high-quality credit and selective high yield. AI capex is reasonable relative to balance sheets; early adopters using AI to generate earnings will be winners. He falls in the bull camp on AI, seeing more net winners than losers.

Aditya Bhave argues the Fed is offside with policy 75bps easier than a year ago despite unchanged unemployment and sticky core inflation. He expects the Fed to reverse last year's risk-management cuts with three rate hikes. The consumer is strong, supply-driven inflation is persistent, and equities can handle further hikes. AI will replace tasks, not jobs, but transition speed matters for policy.

Alicia Levine sees an opportunity for a reversion trade in hardware/tech stocks as AI beneficiaries have outperformed spenders. The collapse in Mag 7 multiples provides an entry point. On fixed income, she expects at least one Fed hike this year, favors the belly of the curve, and warns that oil's decline won't change core inflation. AI concentration in indices creates correlation risks across asset classes.

Chad Beynon discusses record engagement and betting for the World Cup knockout round, with $500M expected per game. In-play betting is growing (70% outside US, 40% in US). Prediction markets (e.g., Kalshi, Polymarket) are a new competitive threat to traditional sportsbooks like DraftKings and Flutter, though product engagement is weaker. Flutter is a buy at current levels, worth less than FanDuel's acquisition price.