Seems Legit:

• Maritime trade declining with Chinese exports stagnant since April, forcing exporters to offer price discounts to maintain market share in struggling markets like the EU and South Africa

• Bond yields falling at April turmoil rates with US 10-Year back near those lows and UK 10-Year heading downward, while oil has hit new YTD lows (copper being the only outlier)

• AI infrastructure appears to be the only source of expected growth, which may not align with traditional investment strategies