High Frequency Monitor: Multiple positives

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High Frequency Monitor: Multiple positives

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High Frequency Monitor

Multiple positives

Global equities propelled by earnings, AI, and the ceasefire 11 May 2026

Global equity markets rallied +2.4% last week on a strong US earnings season, positive Quant Strategy

AI-related news, and the Middle East ceasefire holding despite no conflict resolution. Global

Stocks with exposure to the AI theme contributed most positively to the performance of

the MSCI AC World Index, including NVIDA, Micron Tech, Apple, Samsung Electronics,

AMD, and SK Hynix. Last week, the best performing region was Emerging Markets while

Europe lagged (+0.1%). Among global sectors, Semis (+11.2%), Tech Hardware (+6.2%),

and Materials (+2.9%) were the best performers, while Energy (-5.0%) on a lower oil Nigel Tupper >>

Quant Strategist

price. The strength in the global earnings cycle continues to outweigh the negatives of Merrill Lynch (Australia)

geopolitical tensions and rising inflation to drive equity market performance. +61 2 9226 5735 nigel.tupper@bofa.com

Best performing themes: Space, Gold, AI AmarQuant VashiStrategist>>

Last week, among the 12 themes we monitor, the best performers were Space (+8.2%), Merrill Lynch (Australia) amar.vashi@bofa.com

Gold (+7.4%), and AI (+6.3%). In contrast, Defense (-0.6%), Nuclear Energy (-0.4%), and Sumuhan Shanmugalingam >>

Rare Earths (+1.2%) performed worst. Triple Momentum is strongest for Gold, Rare Quant Strategist

Earths, and Robotics, and weakest for Luxury Lifestyle and SaaS. Merrillsumuhan.shanmugalingam@bofa.comLynch (Australia)

Triple Momentum: Energy, Semis, Tech Hardware

By global sector, Triple Momentum remains strongest for Energy, Semis, and Tech

Hardware. Among large and liquid stocks globally (min $20bn market cap and $20mn