It was 7 pm this past Sunday when our plane began its approach into Cleveland. The sky outside was dark and cold, with a wintry mix streaking past the window.
Most people have never heard of John Boyd, even though he was one of the greatest fighter pilots in U.S. history. His nickname was “40-Second Boyd” because he could beat any opponent in a dogfight in less than 40 seconds.
In this week’s episode of 7 Market Movers, Doug Huber covers how the Iranian conflict is impacting the markets; the latest updates on crude oil prices; and what’s going on with redemptions in private credit markets.
This week Gary focuses on the impact of the events in Iran on the markets. With around 20% of the world’s oil and liquified natural gas (LNG) flowing through the Strait of Hormuz, there’s been a surge in oil prices, which could have an inflationary impact.
At this point, it is clear that artificial intelligence is dramatically reducing the cost of producing code. Tasks that once required large engineering teams can now be accomplished faster, cheaper, and at greater scale — often by a single developer using AI tools.
Gary analyzes three themes driving the markets this week: the diverging performances of the primary equity indexes; volatility in the tech markets driven by AI-disruption fears; and the imminent inflation (CPI) report.