DC Lite #147

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1. Inflation expectations. "There is a major gap opening up between the mean and the median of long-term inflation expectations ... This is a very significant challenge for the Fed because it cannot cut interest rates when inflation expectations are out of control."

2. Crypto asset flows. Crypto asset products have seen $1.2bn in outflows over the last 2 weeks, the highest 2-week total since ETFs were approved.

3. Call volumes. "Megacap growth and tech call buying volume is at its highest level on record."

4. Odd bull (I). "The contemporary Bull has had the lowest cumulative A/D Line gain during its first 20 months.  While it’s only slightly less than the 2002 Bull at this point, it is nearly 55% lower than the 2020 Bull."

See:

5. Stocks vs. tariffs (II). "Stocks vulnerable to tariffs have underperformed YTD."