Ideas
CoreWeave demand outpaces available capacity
CoreWeave is supply-constrained: demand for its compute performance outpaces the capacity it has built. The $3 billion capital raise is an unlock to bring more capacity online, and much of that capacity is already committed to large customers such as OpenAI. Despite circular-financing concerns, there simply is not enough compute right now.
Boeing turnaround harder than expected
Boeing is struggling to stabilize production at 47 aircraft per month, the 777X has slipped into next year, and free cash flow is expected at the lower end of the $1-$3 billion range. The turnaround is harder and longer than investors expected, with small issues able to delay it.
Airline fuel costs pressure earnings
Higher fuel costs are pressuring airlines; American expects an extra $1 billion of fuel expense in Q4, and United, American, and Southwest are trying to raise fares to offset it. There is a limit to how much customers will absorb before resisting, creating earnings risk.
Long-term Treasuries face yield pressure
The rise in long-term bond yields is mostly a supply story: markets are pessimistic about the dollar's role and long-term fiscal sustainability in the U.S. and the West, and inflation expectations are higher because the Fed may not accommodate supply shocks. That puts upward pressure on long-term yields, making long-duration Treasuries unattractive.
AI infrastructure optimism risks weakness
AI-related infrastructure and chip names have been boosted by maximalist optimism. Without continued upside surprises, the market will see weakness; lower-cost Chinese and open-weight alternatives could undermine business models.
Active EM diversifies away from AI concentration
The technology concentration is a global phenomenon, and the EM index is concentrated in a few large semiconductor names. Active EM strategies can diversify into other countries that do not play a big role in the index, where smart investors can find opportunities outside U.S. hype.
Lucid robotaxi deals drive growth
The Bolt partnership to deploy 25,000 self-driving Lucid cars in Europe and the ongoing Uber robotaxi program show Lucid's platform can grow in both EV and robotaxi markets. Cost and cash priorities, a Saudi factory nearing completion, and technology leadership support the turnaround.
Robotaxi market set for exponential growth
The robotaxi market is going to grow exponentially, with some talking about a one-trillion market for EV makers. Lucid intends to bring its technology into as many value-creating segments as possible.
AI compute supply-demand gap persists
Neo-clouds such as CoreWeave must keep raising capital to build infrastructure to serve backlog, and CoreWeave has good visibility into hyperscaler demand. Even if the pace of model development slows, a supply-demand mismatch persists because companies want more tokens and capacity, so everyone continues investing in AI infrastructure.
Favor healthcare and utilities defensively
With markets resilient and risk-conscious investing difficult, she suggests trimming speculative, unprofitable segments and adding defensiveness via higher-quality and value sectors, specifically health care and utilities, into the last few months of the year.
US equities favored over Europe
Europe is much more exposed to energy imports and oil price shocks, while U.S. energy independence means the U.S. economy and equities are likely to hold in better. Europe likely takes the brunt of the oil and refined-product pressure.
US equities favored over Europe
Europe is much more exposed to energy imports and oil price shocks, while U.S. energy independence means the U.S. economy and equities are likely to hold in better. Europe likely takes the brunt of the oil and refined-product pressure.
Software loans offer widening spreads
Software borrowers have near-term maturities coming due, about 25% of the loan market by 2029. Lenders are already extracting concessions, adding roughly 150 basis points of spread and tightening documentation for the first time in a dozen years. This is the most exciting credit opportunity in over two years.
Data center loans bring wider spreads
Data centers are a new loan-market category with about $11 billion of issuance so far; huge debt needs from hyperscalers and the data-center ecosystem should bring wider spreads. But underwriting is difficult because business models, chip obsolescence, and winners and losers are not yet clear, so she is watching with healthy skepticism.
Interparfums benefits from fragrance growth
The U.S. fragrance market is the largest but still underpenetrated, with more growth than Europe, especially in men's fragrance. E-commerce via Amazon and TikTok is seeing high double-digit growth; fragrance is the fastest-growing beauty segment; Interparfums has a long track record and licensing pipeline.
Fragrance fastest-growing beauty segment
Fragrance is the fastest-growing segment of beauty, helped by e-commerce, men's fragrance growth, and its role as an entry price point into luxury; consumers buy on storytelling and emotional experience.
Agency MBS spreads look attractive
Mortgage rates have been stable between 6.5% and 7%, while the back end of the yield curve is driven by competition for capital, government debt issuance, hyperscaler debt issuance, and inflation expectations. Mortgage spreads are wide and real rates are high, so fixed-income investors are being compensated.
This Bloomberg Markets video, published September 17, 2026,
features Ed Ludlow, Sid Phillip, Eric Van Nostrand, Silvio Napoli, Mandeep Singh, Emily Roland, Lauren Basmadjian, Jean Madar, Smriti Popenoe
discussing CoreWeave, BA, AAL, UAL, LUV, long-term U.S. Treasuries, AI-SECTOR, EEM, LCID, DRIV, AI compute infrastructure, UTILITIES, XLV, VGK, SPY, Software loans/credit, Data center loans/credit, IPAR, Fragrance/Beauty sector, Agency MBS.
17 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Ed Ludlow,
Sid Phillip,
Eric Van Nostrand,
Silvio Napoli,
Mandeep Singh,
Emily Roland,
Lauren Basmadjian,
Jean Madar,
Smriti Popenoe
· Tickers:
CoreWeave,
BA,
AAL,
UAL,
LUV,
long-term U.S. Treasuries,
AI-SECTOR,
EEM,
LCID,
DRIV,
AI compute infrastructure,
UTILITIES,
XLV,
VGK,
SPY,
Software loans/credit,
Data center loans/credit,
IPAR,
Fragrance/Beauty sector,
Agency MBS
