To read our weekly Bespoke Report newsletter and access everything else Bespoke’s research platform offers, start a two-week trial to Bespoke Premium. This week we are focused on two themes: the increasingly volatile foundations of the stock market rally and the circular AI boom along with its impacts on valuations, the energy system, and economic growth. We also review a series of key economic data this week that should ease many fears of slowing consumer spendingas well as inflation data and the week that was in global asset markets. Give it a read!