Network Intelligence
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ETF inflows accelerating post-approval. Halving supply shock in April creates structural demand/supply imbalance. Institutional allocation increasing from sub-1% to 2-3% targets.
ECB cutting rates ahead of Fed. German manufacturing in contraction for 8 consecutive months. USD strength on sticky inflation data should drive EUR lower.
Central bank gold buying at record pace. De-dollarization trend intact. Real rates turning negative as inflation persists. Geopolitical premium not priced in.
AI capex cycle still in early innings. Data center demand for H100/H200 GPUs far exceeds supply. Blackwell ramp will drive next earnings beat cycle.
Term premium repricing as fiscal deficit expands. Fed higher-for-longer narrative intact. Supply/demand imbalance in Treasury auctions widening yields.
OPEC+ production cuts holding. China demand recovery accelerating in Q2. Strategic Petroleum Reserve refill to begin. Geopolitical risk premium underpriced.