Oil at US$90 even after a ceasefire. A dollar no one can replace. Bitcoin cratering while IPOs loom. AI infrastructure costs that could reshape every sector — not just tech.

What's really driving markets? Why are central banks frozen? And where is the smart money quietly rotating? Howie Lim finds out from Thomas Rupf of VP Bank.

Highlights:

01:05 Energy prices vs. supply security

03:00 The staggering cost of AI infrastructure

05:38 Rising rates: which stocks and bonds are most exposed?

09:09 Bitcoin's 17 per cent plunge: warning sign or IPO cash grab?

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Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg.

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Written and hosted by: Howie Lim (howielim@sph.com.sg)

With Thomas Rupf, co-head and chief investment officer Asia, VP Bank

Edited by: Howie Lim & Claressa Monteiro

Produced by: Howie Lim & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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