Signal over Noise
New episodes available on Mondays before 6:00 a.m. ET
01 Jun 2026
Signal over Noise: What history tells us about the next market leaders
Every technology shift redraws the market leaderboard. From mainframe to PC, to internet and mobile, history shows it is not only about what stocks to own, but also what stocks not to own. Incumbents rarely win the next era, while profits shift to platforms and networks built on top of the hardware layer. In AI, companies fastest to reach platform mode, combining intelligence and application layers, are likely to define the next generation of market leaders.
17 May 2026
Signal over Noise: Will higher rates derail the equity rally?
After a week marked by rising bond yields and a steepening US yield curve, markets are weighing whether higher rates are a true signal or just noise for equities. We discuss why, despite the move in rates, the US equity bull market remains supported by strong global government spending, resilient consumer spending, and continued corporate investment in areas like AI. History shows that equity markets can withstand rate increases as long as growth stays solid. 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. Recorded on 17 May 2026
10 May 2026
Signal over Noise: The case for active investing
After a decade of mega cap dominance reinforced by passive investing, individual stock moves are now much larger than the index and correlations have dropped to near their lowest since 2018. We discuss why it鈥檚 now time for active investing versus the passive investing that has dominated the prior decade, and how our transformational innovation opportunities like AI, power and resources, and longevity, provide an opportunity to capture returns above and beyond the indices. 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. Recorded on 10 May 2026.
04 May 2026
Signal over Noise: What the Fed transition means for the US fixed income markets
The end of Jerome Powell鈥檚 term as Fed chair brings a shift in US monetary policy, with a divided committee and new leadership on the horizon. We break down what the Fed transition means for interest rates, the outlook for further cuts, and how incoming chair Warsh鈥檚 views on AI, the Fed鈥檚 balance sheet, and inflation targets could shape fixed income markets. 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.
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.
Episodes are also available through the Market Moves channel on and .
What鈥檚 the signal, and what鈥檚 just noise? It鈥檚 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.
