Tech fatigue?

Many global indices are all pushing fresh peaks despite trade tensions, geopolitical headlines and lingering doubts over AI valuations, but leadership is shifting: metals are surging while tech shows early signs of fatigue. Silver is swinging around $80 as China clamps down on exports, tightening global supply, while copper hits record highs on tariff-driven flows and strong underlying demand. The softer US dollar is providing extra fuel for the rally, rotation trades pick up. Investors are navigating a landscape where macro support is strong — rate cuts loom, inflation is easing in key regions and geopolitical shocks are creating selective opportunities. Yet, in a market of record highs, discerning where opportunities lie has never been more crucial. Listen to find out more! Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.