And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Katie Greifeld here to take you through to the closing bell with a global simulcast. We're joined now by Carol Massar and Tim Stenovec in the radio room.Welcome to our audiences across all of our Bloomberg platforms as we pass the most crucial moments going on in the world of finance. But we do want to start off the simulcast here with a note here about the world of politics. We're now learning based on a headline ...

Core Insights - U.S. stock indices are reaching record highs, but international markets are outperforming them in 2025, marking a shift from the previous decade of U.S. dominance [1] - Many regions in Europe, Asia, and Latin America are cutting interest rates, creating a more predictable investment environment compared to the U.S., which is facing trade and inflation uncertainties [1] - The decline of the U.S. dollar in 2025 has positively impacted international stocks, particularly for U.S. dollar-based investors [1] - Valuations in U.S. equities have become high, prompting investors to seek opportunities in markets with lower price-to-earnings ratios [1] - Increased military-industrial spending in Europe due to geopolitical tensions is attracting investment interest [1] Market Dynamics - The easing cycle in various global markets contrasts with the Federal Reserve's cautious approach, leading to a shift in investment focus [1] - The current market environment is characterized by a lack of innovation in some international markets, but this is offset by regulatory predictability [1] - The trend of international diversification is gaining traction as investors look for opportunities outside the U.S. [1]