Precious metals/commodities have been looking great after the Trump/Bessent yen intervention. Most hated short dollar/fiat trade has to be crypto at this point. $IBIT upside calls worth a lotto.
Bond bros finally realizing the 30 year still isn’t attractive when we’re running 6-7% deficits to GDP into perpetuity. Stocks at least have some short dollar/fiat expression. Would you rather own a 5.3% 30 year treasury or own SPX at 21x earnings in this fiscal regime?