"The bond market is yelling from the rooftops that inflation is about to soar"

1. US petroleum exports. "US petroleum exports (crude, refined products) hit record 14.179mbpd last week".

2. US commercial petroleum inventories. "Thereeeeee sheeeee goessssss ... inventories fell by a headline 17 million barrels, PLUS another 7.1 million barrels of SPR crude draws. 13.3 MMbbl total crude draw (comm + SPR), 6.1 MMbbl gasoline draw, 4.5 MMbbl diesel draw."

3. Bond market inflation expectations. "The bond market is yelling from the rooftops that inflation is about to soar."

4. Industrials sector flows. "Flows to industrial and industrial-adjacent exposures are quite elevated here ... sentiment is quite enthusiastic towards these areas".

5. Bubble exhaustion. "Despite the semi/dot com bubble headlines, we aren't seeing that many LPPL exhaustion signals in Information Technology yet. The latest data actually shows active funds are still underweight tech. Instead, Utilities are flashing the most aggressive bubble exhaustion signals at present."

ICYMI