Signal over Noise
New episodes available on Mondays before 6:00 a.m. ET
26 Apr 2026
Signal over Noise: Making Room for Mega IPOs
An influx of large-scale US IPOs is set to reshape market dynamics, creating new competition for capital, index presence, and profit pools. Fast-tracked index additions could drive rotation out of the largest index names. At the same time new AI-focused companies target digital profit pools. We see this as a signal to diversify beyond the biggest index weights and consider physical assets less exposed to AI disruption. Tune in at the start of the trading week for this regular market outlook from Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Global Head of Equities.
19 Apr 2026
Signal over Noise: The IMF meeting’s wall of worry
Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Global Head of Equities, shares key takeaways from the 2026 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington, DC, including insights on the Middle East conflict, inflation, AI, cybersecurity, and the structural shifts shaping global markets.
29 Mar 2026
Signal over Noise: Memory and cybersecurity - a misread sell-off
Recent sell-offs in memory and cybersecurity stocks were triggered by news we see as noise, not fundamentals. Google’s compression algorithm and Anthropic’s new AI model are not new threats; indeed, AI is likely to benefit cybersecurity. We view the pullback as an opportunity, though remain cautious on disruption risks from private AI firms in other sectors. Tune in at the start of the trading week for this regular market outlook from Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Global Head of Equities.
23 Mar 2026
Signal over Noise: Tipping point for Middle East conflict
The Middle East crisis escalated as the US threatened Iran over the Strait of Hormuz, with both sides risking economic and infrastructure fallout. This highlights the vulnerability of traditional 60/40 portfolios to inflation shocks. We continue to recommend diversifying with commodities and physical assets, especially as AI-driven trends increase scarcity premiums. Tune in at the start of the trading week for this regular market outlook from Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Global Head of Equities.
15 Mar 2026
Signal over Noise: Market disruption risks - Geopolitics and AI
Markets face disruption from Middle East tensions and rapid AI advances. The Strait of Hormuz remains a key risk for global energy, while autonomous AI agents are starting to disrupt digital sectors. Labor market risks are rising, with tech layoffs mounting. We favor diversified equity exposure, especially in the physical economy. Tune in at the start of the trading week for this regular market outlook from Ulrike Hoffmann-Burchardi, Chief Investment Officer Americas and Global Head of Equities.
Episodes are also available through the Market Moves channel on and .
What’s the signal, and what’s just noise? It’s the question I hear most often from clients and colleagues alike. With headlines multiplying by the minute, staying focused on what moves markets has never been more important.
