Temasek International CIO Rohit Sipahimalani says two principal market risks for
2027 are a reversal of the AI investment boom and inflation pushing bond yields
higher, which could end the equity rally. He called an unwinding of AI
investment the single biggest risk — not imminent but likely to cause
disruptions in 2027 — and warned that inflation, combined with a changing
interest-rate backdrop, raises the risk that equities could reach a critical
tipping point.