For the past few years, AI has been the market's defining story, but the conversation is beginning to evolve. In this episode, we examine why falling Treasury yields are becoming just as important as AI earnings, what the Fed may be signaling versus what the market believes, and why a broadening rally has quietly been taking shape. We also discuss how changing inflation expectations, improving economic data, and stronger earnings revisions are supporting areas of the market that have largely been overlooked, even as AI remains a powerful long-term theme.

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