Here's an interesting take worth considering: America's productivity growth might be the real catalyst powering the next major market bull run.

Think about it. When productivity climbs—meaning we're producing more output with the same resources—it translates to stronger corporate earnings, healthier economic fundamentals, and increased investor confidence. That's the kind of environment where risk assets tend to thrive.

The recent acceleration in U.S. productivity metrics has been notable. Whether it's driven by technology adoption, automation, or simply more efficient workflows, the macro picture is becoming clearer: the economy has real tailwinds behind it.

For asset allocation strategies, this matters. When productivity gains fuel GDP growth and corporate profitability, traditional equities perform better, but so do risk-on assets across the board. Historical patterns suggest that genuine economic expansion—not just liquidity-driven rallies—tends to support sustained upside moves across multiple asset classes.

Of course, this assumes productivity gains continue and translate into actual earnings, not just market narrative. But if the data holds up, we could be looking at something more fundamental than just another cycle—a genuine broadening of the bull market that extends beyond traditional markets.

Keep an eye on productivity reports and earnings revisions. They might tell you more about where this rally is actually headed than any short-term chart analysis.