Quiet macro day today a collapse in Texas Manufacturing the only significant domestic data (but Treasury’s QRA, part 1 the most noteworthy ahead of tomorrow’s actual announcement), and that was evident in rate-cut expectations being hugely unchanged… Source: Bloomberg And the lack of news was enough to allow a ‘buy all the things’ narrative to continue with Treasury’s QRA suggested lower supply expectations. Bonds were bid across the curve with the belly outperforming (short-end least bought)… Source: Bloomberg Gold rallied back to the highs after the QRA… Source: Bloomberg …as the dollar declined… Source: Bloomberg Bitcoin ripped higher, topping $43,000 back at two-week highs… Source: Bloomberg As GBTC outflows are trending lower and Friday saw net inflows… Source: Bloomberg And of course, stocks drifted higher all day – as they do – but then jumped notably higher on the AQR supply report… Source: Bloomberg With MAG7 stocks accelerating after the AQR up to new record highs… Source: Bloomberg And ‘most shorted’ stocks were squeezed hard (up to last week’s highs)… Source: Bloomberg Of course, with …