Eye On The Market

New York City now has one of the tightest housing markets since 1960.

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In this year’s EOTM Outlook by Michael Cembalest, we focus on four risks: US power generation constraints, China on its own, Taiwan and hyperscaler profits.

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On the surface not much has changed since our last review two years ago.

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While the prior decade was defined by disruption in content distribution, the next decade will be defined by disruption in content creation, augmented by generative AI. This month’s Eye on the Market looks at the rapidly shifting fortunes in legacy cable/broadcast shares vs streaming, the rise of social media as a platform for consuming all forms of content, rising acceptance of user-generated content and the increasing democratization of text-to-video tools used to create it, the value of the legacy content moat in film/tv libraries and the best movies of the 21st century (as ranked by me).

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Mad Libs. This piece is not about how mad liberals are at the administration, although the latest polling data indicates that it could be. Instead, it’s a fill-in-the-blank exercise regarding the impact of tariffs and immigration policy on growth, the impact of Chinese critical mineral export restrictions, Oracle’s debt levels and borrowing capacity, central bank gold reserves and the gender balance of psychiatric medication.

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