As the #AI# theme evolves, investing in it requires greater selectivity and an active approach. In this week’s #MarketTake#, Natalie Gill unpacks our overweight on the AI theme—and what we’re watching for in key corporate earnings results:

The combined pressures of vulnerable energy supply and rising power demand are making energy security a durable investment theme. We favor active exposure to infrastructure and critical energy bottlenecks in this environment. Watch Hugo Liebaert explain in this week’s #MarketTake#:

AI investment is driving sharp moves in stocks. Oil prices remain volatile. Government bond yields are moving higher. Our take: These developments all reinforce our view that supply scarcity is keeping inflation and borrowing costs higher. In this week’s #MarketTake#, Michel Dilmanian unpacks how that’s impacting the role of government bonds in portfolios:

The U.S. dollar’s haven status remains intact, but a stronger dollar no longer automatically means broad emerging market weakness. In this environment, we see selectivity as key in EM. Watch Michel Dilmanian explain in this week’s #MarketTake#: