Here's the macro tell nobody's pricing correctly: [U.S. manufacturers just extended their fifth consecutive month of growth](https://www.marketwatch.com/story/u-s-manufacturers-extend-best-hot-streak-since-2022-so-why-arent-business-leaders-happy-d838157d?mod=mw_rss_topstories) — the longest winning streak since 2022 — while the New York Fed simultaneously finds that (https://www.cnbc.com/2026/06/01/remote-work-youth-unemployment-new-y