To read our weekly Bespoke Report newsletter and access everything else Bespoke’s research platform offers, start a two-week trial to Bespoke Premium. In this week’s report we look at the looming US equity supply. In addition to reduced buybacks driven by the AI capex boom, three mega IPOs are likely to price this year including SpaceX (SPCX). We review their S-1 as well as some implications for index investing. The AI trade is alive and well, and we look at how it’s impacting foreign markets, US earnings, and breadth in the domestic equity market. We also discuss commodities, interest rates, and notable US economic data released this week. Give it a read!