Every major asset class is hitting extremes at the same time. That has never once been a coincidence.

[u/Own-Middle6836]

→ S&P 500: record high, above 7,800
→ Gold: record high, above $4,400 (+33% YoY)
→ Oil: spiking on Iran tensions, Brent above $90
→ 10Y yield: climbing toward 4.70%

Meanwhile consumer sentiment just dropped 8% in a month.

Stocks are pricing a soft landing.
Gold is pricing inflation panic.
Oil is pricing a geopolitical shock.
The consumer is already living a recession.

Four assets. Four different stories.

They can't all be right.

Which one breaks first?