Summary

• The current market rally is dangerously top-heavy, driven by AI names like NVDA, INTC, AMD but with equity concentration at historic bubble levels.
• Commercial real estate is becoming concerning, especially the multi-family sector, which faces surging delinquency rates and falling rents, signaling rising default risk ahead.
• Inflation expectations and PCE readings are climbing, while GDP growth is slowing, setting the stage for potential stagflation.
• The article below highlights five numbers the markets are largely ignoring, but prudent investors should continue to track.
• Looking for a helping hand in the market? Members of The Biotech Forum get exclusive ideas and guidance to navigate any climate. Learn More »

The market remains right at all-time highs despite the continued effective closure of the Strait of Hormuz. First quarter earnings growth has been more than robust, powered to a large degree by the huge surges of profit

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMZN, UPWK either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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