Markets have turned more selective as volatility returns and investors demand clearer earnings and efficiency. The focus has shifted from big ideas to real-world constraints, from whether AI spending can deliver returns, to whether power and grid infrastructure can keep up, and why healthcare is back on investors’ radar.

On The Bigger Picture, Dan Koh speaks with Charu Chanana, Chief Investment Strategist at Saxo about the key themes shaping markets right now and how investors should think about positioning in a more demanding investment environment.