DC Lite #244

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1. NY manufacturing. "This morning's Empire State Manufacturing Survey (red line) was projected to be flat at 0, up from -11.9, but the actual print came in at an impressive +31.2. If 2016 is any indication, this could be just the beginning of much stronger-than-expected survey data."

2. Gold vs. Bitcoin fund flows. As gold funds experienced the largest outflow (-$1.6bn) in more than 2 years, crypto funds saw record inflow (+$6bn).

3. Retail flows. "Last week saw the strongest retail investor buying flow in over 137 weeks (since 3/22). +3.2 standard deviations above the 12M average."

4. Healthcare puts. "Put volumes (that is, bearish options bets) on the Health Care Select Sector SPDF ETF spiked to a more than three-year high on Thursday" after Trump picked RFK for health secretary.

5. US EPS vs. the rest. And finally, “forward earnings per share (EPS) for the US MSCI stock price index is flying to new record highs, while the rest of world's forward EPS have remained relatively flat in recent years."