Today - a look at how narrow the advance is in the US equity market that is taking the main indices close to their record highs and how this rhymes with past less-than-promising outcomes.. As well, we encourage market participants to keep bond yields and geopolitical headline risks on the radar - particularly for Europe if Trump announces an embargo on exporting diesel. This and much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links

Some believe that Trump shouldn't and even really shouldn't announce a diesel export embargo
Beware bond holders and savers! Russell Napier is a must-listen on a long-form podcast on the coming financial repression as we move to build what must be built and do so while keeping governments funded.
A Substack post on China's AI scene - very thorough.

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The narrowness of the advance at least a medium term concern.

Saxo Market Call

The narrowness of the advance at least a medium term concern.