Aidan Donnelly

Look, I think when you look at the performance over the last, probably since kind of early May, right, the big driver of the markets has been back to this same very concentrated story around.

It's not even Mag7 anymore.

It is AI and semiconductors and a really, really kind of focused thematic that's running on.

And I think if you look at the rest of the market now,

it's kind of focused on the important things that are going on around the economy and things like that.

But that run that we've seen, you're just seeing an awful lot of stuff bouncing very hard that had been sold off.

Other stuff that had been very strong was a source of funds and you saw rotation into the stuff to bounce.

Like if you look through the last two weeks of May,

software stocks went on an absolute tear.

In February, they were absolutely hammered because AI was going to kill every single SaaS operator in the world.

Do you kind of have this...

Yeah, software, the software as a service goes.

You have this kind of extreme swing in sentiment.

It's almost like a frenetic bouncing ball trying to find a wall to hit off, right?

And there's a lot of that.

Last Friday, it was very much around, you know, the employment numbers came out.

And the big question has always been, you know, since it started this year,

even more so since the war in Iran started in terms of higher oil prices, higher food prices, higher inflation.

We're going to have CPI out today.

It's probably going to post a 4% plus number.