No AI... no upside volatility chasing
US is king of AI. Note the difference in upside volatility between SPX and SX5E.
Source: GS
Ex-out Big Tech and we are not even expensive
Source: Barclays
Exclude the top 50...
Source: BofA
Irony
Source: Refinitiv
Happy days
Source: Refinitiv
Last time VIX was here
Source: Refinitiv
Soggy Europe
Source: Refinitiv
Cyclical hate
Source: Morgan Stanley
Bear markets we remember
Source: Ophir/Mike Zaccardi
Massively bullish bulls and evaporating bears
Source: Refinitiv