Markets Have Figured Out That Sovereign Balance Sheets Will Be Leveraged To The Max To Win The AI War

By Eric Peters, CIO of One River Asset Management

Perhaps

The world opens at altitude, expands. The horizon infinite. Above us blue, deep, vibrant. The multitude of sagebrush, grasses, blend into vast meadows, sweeping across the valley below. The S&P 500 hit new all-time highs. And given all the things going on down below, it’s fair to say that if stocks were quite a bit lower, it would make perfect sense to most everyone. Economic and kinetic conflicts, chronic deficits, political dysfunction, social division, high real interest rates. And that’s just the start of it. Yet here we are, at all-time highs in stocks.