The Gemini team discusses today's US, Canada & America's INSTAT B report from Bill Cara

This report reveals a significant market rotation where cyclical industries and real assets, such as energy, materials, and utilities, are outperforming traditional growth sectors. While semiconductors and artificial intelligence hardware remain exceptionally strong, broader technology and communication services are facing downward pressure due to high valuations and regulatory concerns. Geographically, Canada and Latin America show robust health in financial and commodity-linked equities, supported by favorable macro expectations. Ultimately, the report highlights a rebalancing of capital away from crowded software trades toward cash-flowing infrastructure and value-oriented assets.