DC Lite #165

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1. Excess savings. "The top 10% of households by income, or those earning $245,000 or more a year, hold more than three-quarters of excess savings, according to Moody’s Analytics."

2. Macro vs. inflation surprise. "Macro surprises and inflation surprises are finally back in sync after 2+ years of divergence ... We believe that we are on the path to goldilocks in 2024 (moderating but stable macro + cooling CPI)."

3. Fintwit. "Goldman's Twitter Sentiment Index jumps to its highest mark since early 2020."

4. HF exposure. "The US fundamental hedge fund long/short ratio is at 2nd percentile on a 1 and 3 year look-back."

5. Tech vs. the rest. "Consensus forecasts for tech earnings have risen well above those for the rest of the S&P 500 ... Analysts see tech earnings growing 18% year over year in Q2 versus 2% for the rest of the index."