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Oil prices remain high, U.S. Treasury yields do not decline, and AI valuations are still holding steady—can this situation last? NVIDIA will release its report after the close on Wednesday, but the answer isn't just in the guidance, it's also elsewhere. Click to see tonight’s biggest “traps” to avoid!

Glonghui, May 20 | UBS Group Chief Strategist Bhanu Baweja stated that as real disposable income growth approaches zero and fiscal support gradually fades, U.S. consumer spending will slow down, posing a threat to the stock market. Although U.S. corporate earnings were strong in the first quarter, driven by artificial intelligence, Baweja pointed out that the yield on long-term U.S. Treasury bonds has surged significantly in recent trading days, with the yield on 30-year Treasuries rising to levels not seen since 2007. He warned that this increase reflects robust nominal growth in the U.S., rather than inflation concerns, and that real yields are the main factor driving rates higher. Currently, the market is focused solely on capital expenditures by ultra-large AI companies, while overlooking the risks of a slowdown in the consumer and financial sectors. Earnings growth in these areas was strong in the first quarter but masked underlying weaknesses. If the market is worried about inflation today, it should be concerned about growth tomorrow. Against this backdrop, the strategist expects large-cap stocks to outperform small-cap stocks, and growth stocks to outperform value stocks—especially if Middle East conflicts persist. However, even though both U.S. and European stock markets face headwinds, the U.S. market is still expected to outperform Europe.

BlockBeats News, May 20th, according to LookIntoChain monitoring, in the past 3 hours, whale 0xf605 has deposited 19 million USDC into Hyperliquid to purchase HYPE. The whale has so far bought 76,600 HYPE tokens (worth $3.8 million) and is still accumulating. According to an exchange market data, HYPE briefly surged above $49.5 earlier.