Risk assets are caught between strong U.S. corporate earnings driven by AI and the growth-dampening, inflationary impact of tariffs, with early signs suggesting both consumers and companies will share the cost—yet U.S. corporate resilience supports staying overweight AI and U.S. equities.

Markets kicked off a data-heavy week amid lingering trade uncertainty and mixed US economic signals, with central bank updates, softening global PMIs, and dovish Fed dissent shaping a cautious macro outlook.

New U.S. legislation like the Genius Act is reinforcing stablecoins as a future payment method, supporting dollar dominance globally, while bitcoin remains a separate return driver among the five key mega forces shaping markets.