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Focused Research
Monthly Fund Flows – Passive Funds Continue to Grow
March 28, 2025
63% of domestic equity funds are now passive. Although active equity managers struggle to beat their benchmark most years, they still play an important role in price discovery and allocation of capital.
Newsclips
Quick Comments/What We’re Reading
March 28, 2025
Today's topics include the state of the housing market, the plan for oil under Trump, Fedspeak, liberation day, projecting the U.S. debt burden, a call for more active ETFs in Europe, Chinese companies need new buyers, and are we reviving nuclear energy?
Newsclips
Cartoons
March 28, 2025
Charts of the Week
Almost All of the Stock Market’s Returns Come Overnight
March 28, 2025
Over the past few decades, almost all of the returns in the U.S. stock market have come outside of trading hours.
Charts of the Week
When Might the Fed Return to Profitability?
March 28, 2025
The Fed's interest expenses exploded higher over the past few years. They have been operating at a loss since September 2022 and might not return to profitability for several more years.
Charts of the Week
Paying for Security
March 28, 2025
Defense spending, and who pays for it, is quickly becoming one of the most significant economic issues today. Who spends on defense and what "defense spending" means will dramatically impact fiscal budgets for years. This applies to both the U.S. and Europe/Canada.
Charts of the Week
Uncertainty Reigns Supreme at the Fed
March 28, 2025
The Trump administration has made the Federal Reserve's job all the more difficult, creating uncertainty on several different fronts.
Charts of the Week
The Cost of Creating Electricity in the U.S.
March 28, 2025
Speculators continue to build a larger net long position in natural gas as electricity prices march higher.
Charts of the Week
Rising U.S. Government Interest Costs
March 28, 2025
For the last few decades the U.S. has been in a low interest rate environment where deficit spending would not cause major issues. A 40-year high in inflation and the higher rates that followed are stressing the country's finances.
Charts of the Week
A Long-Term Look at Interest Rates & CPI
March 28, 2025
A long-term look at interest rates & CPI
Charts of the Week
Weekly Research Recap
March 28, 2025
Some interesting charts from our recent posts