Is the S&P 500 Really In a Bear Rally?

The video discusses the recent market rally and increased risk appetite since February, highlighting the preference for G7 bonds over US bonds despite negative yields. It examines US economic growth, using rail shipments as an indicator, and explores global trade trends. The video also covers the flattening of the US bond curve and potential economic convergence between the US and Europe.

What observations are made about global trade and its relationship with economic growth?

What does the speaker suggest about the future of bond yields in relation to economic convergence?