The French

Europe is very sick again. But capital flows remain strong here in the United States.

Action to Take: Powell's comparison of Bitcoin to gold sent the digital asset surging past $103,000, marking a watershed moment for institutional acceptance. Beyond the price action, Bitcoin's utility continues to expand, particularly in stabilizing power grids to support green energy adoption, as I mentioned in yesterday's Postcards.

These developments validate the core themes from our March Hedge of Tomorrow report, which outlined how portfolios should adapt to a new monetary landscape.

With Powell signaling a patient approach to rate cuts moving forward, those strategies deserve another look. The dollar remains strong - but no good thing lasts forever.

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Momentum: Technology leads the charge as the Nasdaq outpaces other indexes on strong volume, fueled by AI-related optimism and Powell's supportive Fed comments. While the S&P 500 maintains its upward trajectory, small caps are starting to lag, suggesting some rotation from Russell 2000 names back into large-c…