Old Mutual Old Mutual Markets & Meaning

The Earnings Cycle Still Has Legs

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In this month’s Markets & Meaning, Sean Ashton looks beyond the latest headlines to assess where we are in the market cycle. He unpacks rising US Treasury yields and growing concerns around fiscal deficits and the dollar, before turning to NVIDIA’s latest results and what they reveal about the strength and sustainability of the AI investment cycle.

Sean’s conclusion is perhaps the most important takeaway: we may be further into the cycle, but strong earnings, healthier valuations and periodic resets in sentiment suggest the bull market could still have legs.
1 Sep English South Africa Business

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