US banks are capitalizing on strong profits and regulatory adjustments, with billions being freed up for lending, mergers and acquisitions or buybacks.

Amid more tariffs, policymakers are rethinking how to frame their portfolios and placing much of tech, rare earths and the energy transition under this umbrella.

Rarely have I found the Davos attendees so split in their investment outlooks.

American investors and business leaders were giddy over a possible "Golden Age," though most were bracing for what promised to be a rollercoaster ride. Meanwhile, Europeans were moping about their economies, red tape and lack of innovation. And the Chinese delegation was the smallest in years.

Conversations revolved around the big challenges investors and corporates are trying to solve right now, from pivots in US policy to the languishing state of Europe and China, artificial intelligence market concentration, the risks of tariffs, what pessimism or optimism had already been priced in or where private markets might head next.

Sitting across 40 private meetings and panels, I better understood the mindset of businesses, investors and policymakers. Here are three of my takeaways.

1. The US vibe shift goes global but will Europe pick up on it?

US exceptionalism has been a driving force in markets for years. The dominant theme at Davos was whether the new administration would amplify this and diverge even more from Europe and Asia.

Meanwhile, US corporates are realigning their priorities fast. Their confidence means they are adding new initiatives whilst they "war room" what the administration's first moves could mean for them.

However, the realignment also exposes weaknesses in large European markets. The largest European economies appear trapped in a prolonged economic malaise, outpaced by the US in productivity and technological innovation while losing ground to China in manufacturing competitiveness.