According to @CNBC, the S&P 500 dividend yield has fallen to its lowest level since the dotcom bubble, highlighting a historically thin income profile for U.S. equities, source: CNBC. This matters for traders because a lower index dividend yield mechanically reflects higher prices relative to dividends, making dividend-based valuation screens less attractive at the index level, source: CNBC. Cross-asset allocators may focus more on equities versus bond carry and sector leadership dynamics as yield scarcity concentrates performance, with potential liquidity implications for high-beta assets including crypto, source: CNBC. Crypto-focused traders can monitor equity breadth, the equity risk premium, and funding conditions to gauge whether equity income scarcity coincides with risk-on or de-risking across digital assets, source: CNBC.

According to @DowdEdward, the junk bond market is showing the same thinking seen during the dotcom bubble, specifically the 'build it and they will come' financing of CLECs, which he highlights as a cautionary historical parallel for credit markets. Source: @DowdEdward on X, Nov 13, 2025. According to @DowdEdward, this comparison places focus on high-yield investor behavior and sentiment, suggesting traders should note how similar narratives previously unfolded in leveraged sectors. Source: @DowdEdward on X, Nov 13, 2025.

According to Edward Dowd, the changing second derivative of AI capex spend mirrors historical patterns seen before the dotcom bubble burst in 2001, where a pause in telecom capital expenditure led to a downturn in telecom equipment stocks. This historical context suggests a potential impact on NVIDIA's stock, which is heavily tied to AI infrastructure. Dowd's analysis points to possible caution for traders considering NVIDIA, as similar patterns in expenditure shifts previously led to significant market corrections.