Oracle CDS: The 5-year spread hit a record ~230 bps, over 4x the IG index.
Market breadth: More NYSE stocks hit 52-week lows than highs near S&P peaks.
Treasury selloff: The 30-year yield hit 5.53%, its highest level since 2004.
Macro narrative: Macro is seizing the story from equities again.
Money supply: US M2 hit $23.3 trillion, up 5.7% YoY, the fastest in 4 years.
Mag 7 split: Mag 7 stocks are the least correlated in over 12 years.
