DC Lite #110

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1. Home improvement. "A widely cited barometer of the remodeling market is pointing to the first annual decline in home-improvement spending since the housing bust of the late 2000s."

2. King Dollar. "The relentless rise of Treasury yields is translating directly into dollar strength, laying waste to the value of other currencies."

3. Sectors vs. USD. "Given the current trend, looking at sector performance in an environment where the dollar strengthens further might be useful for portfolio positioning."

4. Weekly sector fund flows. "Markets are really starting to lean into the reflation narrative with energy and materials continuing to receive inflows, while the appetite for class defensives like staples and health care lack behind."

5. FMS positioning vs. history. "Relative to history, investors are long bonds, materials and industrials, and Japan…and are underweight cash, REITs, EM, and staples."