"Q4 earnings season reflects a character change in the market"
"The US $SPY has been the worst performing of the G7 country ETFs since Trump re-took office"
"Companies are talking about buybacks again"
"Profit margins are still the story"
"QT is about to turn from relying on sharp reductions in money fund RRPs to banks reducing their deposits"
Retail investors have largely sat out the rally in gold
"Those PPI numbers were a game-changer for the January core PCE print"
