Alf and Brent discuss the reflexivity bias: now that the S&P500 is rallying again, investors are keen to talk about AI Capex driving indexes higher - where were they when we hit 4,800? Always be aware of your negative and positive biases. The duo also discusses recession odds and a gameplan to approach rates, FX and equity markets.

Podcast transcript: https://www.spectramarkets.com/tmtf-transcript-01may25/