Bond selloff: 10-year Treasuries topped 5.2% for the first time since 2007.
Consumer sentiment: Michigan fell to 48.1, its second-lowest level ever.
Midterm setup: From late September midterm years, the next 10 months were always green for the S&P.
AI concentration: The AI Big 10 now account for 41% of the US stock market.
Fed speak: Officials keep stressing they are not in the forward-guidance business.
Productivity: Gains since 2019 look more like capital deepening than an AI shock.
