"The U.S. national debt now exceeds 100% of gross domestic product"

1. Q1 GDP. "US Real GDP came in at a 2% annualized growth rate in Q1 2026 data released this morning. Consumption & investment increased, government output rose, and the trade deficit increased. Nominal GDP growth (unadjusted for inflation) came in at 5.6% annualized".

2. Jobless claims. Initial and continuing claims have dropped to 57- and 2-year lows, respectively (not a typo).

3. National debt. "The U.S. national debt now exceeds 100% of gross domestic product, crossing a once-unthinkable threshold, on the way toward breaking the record set in the wake of World War II."

4. Sentiment swing. "The S&P 500 bottomed shortly after key sentiment indicators reached extreme pessimism ... Since then, sentiment has swung to excessive optimism. That shift suggests near-term gains may be harder to achieve without improved geopolitical news, stronger economic data, or better earnings results."

5. Tech +20%. "Here's every time the tech sector had a +20% monthly total return at an all-time high."

ICYMI