Group 1 - The stock market has reached new highs despite weaker labor market data, indicating a potential path for the Federal Reserve to lower interest rates [1][2] - The concentration of the stock market in mega-cap global tech stocks has created a tension, as profit growth cycles of benchmark indices have decoupled from the U.S. economic cycle [2] - Increased interest rate sensitivity, referred to as equity duration, presents new challenges for asset allocators in aligning portfolio decisions with macro indicators [2]