Executive Summary
PMUSD widened back to 3227 bps overnight, erasing yesterday's narrowing. DEWS holds 6 coins ALERT on $2.69B mcap; XAUT decides tomorrow whether the metals stress is signal or noise.
PMUSD widened to 3227 bps below peg, undoing yesterday's narrowing and putting the $63.6M coin back in the direction it has held for 991 hours. DEWS keeps it ALERT at score 41, with cross-source divergence at 100 and pool drift at 79. The trigger sits at 3725 bps; reach that, and the chronic label becomes something sharper.
DEWS breadth carries the wider story: 6 ALERT coins covering $2.69B between them, with XAUT ($2.55B) doing most of the heavy lifting as a fresh band-change entrant. XAUm, ALUSD, and pmUSD round out the list, all flagged by cross-source divergence rather than outright peg failure. Three new WATCH names (A7A5, AEUR, AID) suggest stress broadening rather than concentrating.
WTGXX added $958M this week to print a fresh ATH at exactly its prior peak, an oddly tidy number for a tokenized treasury fund moving nine figures. PSI sits at 90.1, holding BEDROCK for one day after Wednesday's STEADY dip. If XAUT survives the first-day noise test and stays ALERT tomorrow, the metals complex stops looking like data hygiene and starts looking like a theme.