Halftime Report Live at the CAIS Summit 10/13/26

Despite record market concentration in AI names, credit-market stress remains minimal while private-credit managers chase double-digit yields in data-center infrastructure.

• Concentration risk debated: Michael Cembalest's basket of 42 AI stocks drives 60-80% of S&P earnings growth and capex since Jan 2024, while 60% of S&P names sit 20%+ below highs.
• PTJ turns bearish: Paul Tudor Jones likens today's market to 1999 and says he'll be short the entire 2027, citing a bifurcated 'two speed' market.

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