lending markets is forcing a rethink of event-driven flows

If institutional desks deteriorates while governance turnout looks fine, the tape often turns defensive first.
Builders and treasuries should track spot ETFs even when social feeds obsess over sanctions screening.
That debate sits next to today’s market focus around “Sei's Autobahn Consensus Vote Clears Quorum.”
The edge is often just refusing to confuse volume with conviction.
Risk is easiest to ignore precisely when it is most expensive.
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