Markets remain resilient, supported by solid earnings, improving economic data, and positive momentum across global equities. However, leadership remains concentrated and valuations in tech remain historically elevated, so selectivity is important.
International markets, commodities, energy, materials, and other inflation-sensitive areas continue to offer attractive risk/reward opportunities, while higher interest rates keep pressure on bonds and expensive growth assets.
Overall, the environment remains constructive, but a measured approach is appropriate as market breadth is uneven and summer volatility remains possible.