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“When will the ‘AI-only rally’ reverse? Nomura offers three catalysts: US-Iran talks break down, US-Iran talks go too well, and call options are no longer being bought.”

“When will the ‘AI-only rally’ reverse? Nomura offers three catalysts: US-Iran talks break down, US-Iran talks go too well, and call options are no longer being bought.”

``` The current market consensus is highly concentrated, with AI technology stocks taking the lead. However, Nomura strategists warn that this extremely crowded positioning lays the groundwork for intense reversals. Nomura cross-asset strategist Charlie McElligott points out in his latest report that the current macro consensus in the market is unprecedentedly
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