The AI trade hasn’t broken, but it may be pausing

The #AI trade hasnt broken, but it may be pausing. And that pause is starting to matter for how investors think about diversification, timing, and what actually drives returns when the headline theme goes quiet.

If the next phase of the bull market isnt about chasing the obvious AI winners, where do secondary effects start to surface? How do you position when growth stays firm, #inflation cools faster than expected, and #bonds struggle to find direction? And what happens when regional and sector dynamics, not mega-themes, do the heavy lifting?