George Boubouras

Broadening into U.S. mid-cap equities via Russell 2000 to capture the benefits of U.S. economic resilience and the rotation away from large-cap AI beneficiaries.

Favor U.S. long-end duration because inflation expectations are well anchored, the Fed is reinforcing price stability, and credit conditions remain OK; expect yields to move toward 4.25% before 4.75%, leading to a flatter curve.

Rotating into energy and materials as part of the second-half broadening trade; U.S. resilience and reasonable oil prices support these real asset sectors.

Traditional banks are winning back market share from private credit lenders because investor money going into private capital has slowed, concerns about excessive leverage have risen, and banks have built competitive lending pools; this, together with strong consumer and business borrowing, supports the sector.

Indonesia is a short because of currency weakness, capital flight, and lack of consistent economic reform, disappointing investors.

Prefers Nikkei, KOSPI, Singapore, and Australian indices on retracement because these markets have large earnings coming through with high payout ratios and dividends, and the broadening out of the AI trade benefits these regions.

Prefers Nikkei, KOSPI, Singapore, and Australian indices on retracement because these markets have large earnings coming through with high payout ratios and dividends, and the broadening out of the AI trade benefits these regions.

Prefers Nikkei, KOSPI, Singapore, and Australian indices on retracement because these markets have large earnings coming through with high payout ratios and dividends, and the broadening out of the AI trade benefits these regions.

Prefers Nikkei, KOSPI, Singapore, and Australian indices on retracement because these markets have large earnings coming through with high payout ratios and dividends, and the broadening out of the AI trade benefits these regions.

The U.S. economy is self-sufficient and that is a protection and a hedge. In addition, the U.S. dollar strengthening, all else being equal, is inflationary. The U.S. economy relative to other developed market economies is in a relatively better position. Because the US is a net energy exporter, it is structurally insulated from the physical oil shortages devastating import-heavy regions like Asia and Europe. This economic divergence, combined with safe-haven capital flows and a hawkish Fed, will continuously drive capital into the US Dollar. LONG. The US Dollar is the ultimate macro hedge in this specific geopolitical crisis due to American energy independence. Coordinated global central bank intervention (e.g., the G7 acting together) to artificially weaken the dollar and support collapsing Asian currencies.