Group Chief Economist Neil Shearing walks through the summer’s big market themes to discuss the growth outlook, the China slowdown scares and whether the hype around AI is justified. Along the way, he gives his take on the latest PMI readings, explains the problem with China stimulus hopes and previews our forthcoming work on the impact of artificial intelligence on the global economy and markets.
Plus, Tom Mathews, a senior economist on our Markets team, talks about what the enthusiasm around AI is doing to equities valuations now as he talks about that blowout Q2 earnings report from Nvidia. He also discusses why the market has come off the boil in recent weeks, including the rise in bond yields and shifts in the macroeconomic narrative.