DC Lite #57

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1. CB Consumer Confidence. Consumer confidence improved for the 3rd straight month to the highest reading since December 2021. The Present Situation Index surged to a new post-pandemic high while Expectations also improved.

2. World GDP outlook. "The International Monetary Fund raised its forecast for global growth this year on better-than-expected expansion in the US and fiscal stimulus in China, while warning of risks from wars and inflation."

3. Gold vs. digital gold. "Investors' preferences have been shifting, leading to outflows in Gold ETFs and inflows in Bitcoin funds."

4. Selling pressure. "Something odd is happening under the surface of the stock market. The S&P 500 hit record highs last week at the same time an indicator of underlying selling pressure spiked to panic levels. That's never happened before."

5. Top 10 dominance (I). "The market cap concentration of in the 10 biggest stocks is getting close to dotcom era levels."