DC Lite #326

1. Voter issues. People care about prices. They don't care about global trade.

2. USD speculators. Speculative traders—including hedge funds and asset managers—are now short the US dollar for the first time since October.

3. Copper ATHs. "Copper breaks out to all-time highs as global economy is just fine probably isn't the headline you'll see this weekend."

4. CTAs vs. US equities. Goldman has CTAs modeled as buyers of US equities in all scenarios over the next week and month.

5. Tech EPS estimates. "The selloff in Tech has essentially been all multiple contraction thus far. Forward 12m EPS made a new high yesterday."

ICYMI

• Thu 3/20 #325: The percentage of 'Buy' ratings for S&P 500 stocks is on track to end the month at its highest since August 2022

• Wed 3/19 #324: "Can stocks fall 10% this year? Maybe, but history would say something bad needs to happen"

• Tue 3/18 #323: "The Magnificent 7 are finally acting as a group — besides Apple, they’re all tumbling together"

• Mon 3/17 #322: "So far, industry analysts haven't gotten either the tariff memo or the recession memo"