“Saying investors are underweight US assets is like saying the runner-up at the Nathan's Hot Dog Eating Contest is underweight hot dogs; he's not underweight, he's just eaten 60 dogs in 10 minutes.”

                                                                                             - Michael Hartnett, Zeitgeist quote, Jun 13 Flow Show

It's remarkable that just 2 months ago every major bank was predicting a bear market and imminent recession. Yet, here we are - nothing in the trade war has been resolved (merely punted), the looming debt ceiling showdown will push the US to the edge of a technical default, the question over AI's return on investment still haunts those who look beyond momentum trades (just ask Apple's project developers), and now we have another global military crisis to add to the mix -and the S&P is trading just shy of 6,000 and only 3% below its all time high, as if all is well with the world. Indeed, as Michael Hartnett writes in his latest Flow Show note, it is "back to Goldilocks, end of trade war, start of tax cuts…door wide open for stock bulls."