DC Lite #91

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1. Dot plot. Expectations for 2024 were unchanged at 3 cuts.

2. FOMC (II). "Key takeaways from the Fed's dot plot for 2024 data: Raised expected real GDP growth to +2.1%; Lowered expected unemployment rate to 4.0%; Kept expected PCE inflation at 2.4%; Raised expected core PCE inflation to 2.6%; Kept expected FFR at 4.6%."

See: Cubic Analytics

3. Bitcoin ETF flows (I). "Yesterday was the largest outflow day for the ten spot BTC ETFs since they started trading on January 11"…

4. FMS vs. equities. "FMS investors are net 28% overweight equities, up 7ppt MoM to highest level since Feb’22."

5. Confirmation vs. divergence. "At the moment, There is more confirmation than divergence for the stock market. If there is going to be a short-term pullback, we would see more of these charts diverging."

See: