According to @KobeissiLetter, the US hard economic data surprise has risen to +22 points, signaling that recent releases such as nonfarm payrolls, retail sales, and industrial production have been beating consensus estimates, source: @KobeissiLetter. @KobeissiLetter describes this as the US having two economies, with hard data notably outperforming expectations, source: @KobeissiLetter. For trading, the positive hard-data surprise backdrop warrants close monitoring of the US dollar (DXY), US Treasury yields, and BTC and ETH price action into upcoming hard-data releases to manage event risk, source: @KobeissiLetter. Key hard-data catalysts highlighted include nonfarm payrolls and retail sales, which are core components tracked by the surprise measure and can drive near-term volatility across FX, rates, and crypto markets, source: @KobeissiLetter.