“But with U.S. equities already making up such a large proportion of global portfolios, we think concentration is a bigger risk. U.S. exceptionalism has also started to fade from the levels seen before 2025, while rising debt levels among the Magnificent Seven add to the risks of continuing to chase the same companies.”

Chris Rush · said date not stated · reported 2026-08-22

Chris Rush highlighted concentration risks in U.S. equities and debt levels among major tech companies.