DC Lite #351

"Hedge funds net sold Staples in nearly every region this week, and the sector has now been net sold in 7 of the last 9 weeks"

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1. Texas manufacturing. "Dallas Fed manufacturing outlook dropped to its lowest level since May 2020. New Orders (green) declined while Prices Paid (blue) and Prices Received (red) rose."

2. Bitcoin flows. "Last week, US spot Bitcoin ETFs recorded a net inflow of 31,323 $BTC, equivalent to approximately $2.9 billion. In BTC terms, it was the fifth-largest weekly inflow on record. In dollar terms, it ranks even higher - the third-largest inflow."

3. Retail flows. "Retail buyers haven’t blinked (and likely won’t unless you start to see unemployment rate tick higher)."

4. Hedge funds vs. Staples. "Hedge funds net sold Staples in nearly every region this week, and the sector has now been net sold in 7 of the last 9 weeks."

5. Trough valuations. This table shows trough P/Es across sectors around bear market lows.

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