The simplest explanation isn't always the correct or complete one 😵‍💫

Plus a charted review of the macro crosscurrents 🔀

(Source: Fernando Santander, Unsplash)

📈 Stocks rallied to new all-time highs, with the S&P 500 setting a record intraday high of 5,375.08 on Friday and a record closing high of 5,354.03 on Wednesday. For the week, the S&P gained 1.3% to end at 5,346.99. The index is now up 12.1% year to date and up 49.5% from its October 12, 2022 closing low of 3,577.0…