"The US is the most vibrant and prepared country for AI"

1. US Redbook Index. Same-store retail sales continue to flash exceptional strength: +10% YoY for the week ending Jun 20 (9.4% prev).

2. AI vs. productivity. "If US productivity growth continues to lead the rest of the G10, the US lead in artificial intelligence would probably explain why ... the US is the most vibrant and prepared country for AI, with China close behind on some measures."

3. DXY vs. SPX. "During the second half of the 1990s, investors around the world wanted exposure to American assets. They wanted U.S. stocks. They wanted U.S. technology companies. They wanted dollars. Capital poured into the United States, and stocks and the dollar benefited. Could something similar be happening today?"

4. Cap- vs. equal-weight Tech. "The equal-weighted large cap Tech sector index is outpacing its market cap weighted counterpart by the widest margin since the Pandemic-fueled speculative bubble of early 2021."

5. Hyperscaler capex vs. memory. "Per SemiAnalysis/CLSA, memory's share of hyperscaler capex is expected to climb from 35% in 2026 to 48% in 2027."

ICYMI