How long do you think this U.S. stock bubble can last? After the SpaceX IPO? Or after the U.S. midterms? Because right now, the market has stopped pricing in bad news. 🔴 April PPI: 6.0% YoY (vs 4.9% expected, vs 4.3% prior) 🔴 Core PPI: 5.2% (vs 4.3% expected) 10Y Treasury yields hit 4.47%, a 2026 high. 20Y and 30Y both broke above 5%. Normally, that combination crushes long-duration tech. But at the same time, U.S. equities keep making new ATH. And SpaceX is targeting a June IPO at a $1.75T valuation, raising ~$75B, the largest public offering in market history. A single deal that could absorb a massive share of risk-on liquidity at the exact moment positioning, valuations, and inflation are already stretched.(BloFin Research)