1 #TorstenSlok, chief economist at Apollo Global Managements, says these are the “top three macro questions for investment committees today”:
1) Middle East: What are the implications if some tanks reach critical levels somewhere in the world, including #distillate fuels in the US?
🧵

1 #TorstenSlok, chief economist at Apollo Global Markets: Nasdaq implied #volatility relative to the #S&P500 has spiked to its highest level in many years. The jump reflects #investors demanding far more protection on #AI names than on the broad #market … 🧵

1 #TorstenSlok, chief economist at Apollo Global Management: “With the three largest passive #S&P500 #funds now holding more than $2.6 trillion combined, and Vanguard's #VOO alone crossing $1 trillion this month … 🧵

1 #TorstenSlok, chief economist at Apollo Global Markets: #revenue per employee is rising for the #Mag 7 and falling for #small-cap #companies. 🧵 #AI

1 #TorstenSlok, chief economist Apollo Global Management: The closure of the #StraitofHormuz is increasingly showing up as a #working-capital problem for #US #corporates. With limited traffic thru the Strait over the past 3 months, supply-chain bottlenecks are rising, delivery times are slowing … 🧵

1 #TorstenSlok, chief economist at Apollo Global Markets: The surge in new #US #businessformation is being fueled by #AI and #largelanguagemodels, which are dramatically reducing the cost and complexity of launching a company. 🧵

1 #TorstenSlok, chief economist at Apollo Global Management: three Forces are Pushing #Rates Higher Across the #Curve 1 - Front-end rates are under upward pressure because #inflation is higher for longer. 🧵 #yields #bonds #bondyields

#TorstenSlok, chief economist, Apollo Global Management: the #S&P500 #IT sector's share of total index #capex has surged to a record-high 35%, as #hyperscalers race to build out #AI #infrastructure at unprecedented scale