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DC Lite #382
"Gold has overtaken the euro as the world’s second most important reserve asset for central banks"
Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights.
1. CPI. "Perhaps the biggest argument against current CPI signaling further disinflation is the diffusion index hovering around 50%. This is not an inflationary figure, but more relevant to the Fed’s mission, it is not disinflationary either."
2. Reserve assets. "Gold has overtaken the euro as the world’s second most important reserve asset for central banks, driven by record purchases and soaring prices."
3. Investment Manager Index. "US equity investors remain highly risk averse in June on average … though the degree of pessimism has eased for a second successive month to its lowest so far this year."
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4. Retail flows. The "US captured a significant $250B share of the global $400B retail flow over the six months before the Liberation Day. However, in the most recent month, retail flows favored Europe over the US."
5. Semis. "Semis are breaking out, beating the broader market, and pushing Tech higher — with the strongest participation we’ve seen in over 9 months."
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