August's CPI came in below estimates as many transitory categories acted as a drag on the index. ... Read More
August's payroll report was 498k jobs short of expectations. This ranks as the third largest downside miss on record.... Read More
U.S. stocks have handily outperformed world stocks since the prior to the pandemic, but the trend has accelerated in the past few months.... Read More
A recent study used a non-traditional definition of 'active' and 'passive' to show flows into 'very active' ETFs actually outpaced flows into 'very passive' ETFs since 2000.... Read More
Foreigners added $130 billion in Treasury holdings in June. Who was buying?... Read More
Shelter costs, which have been the sleeping giant in the inflation debate, are beginning to reflect higher rents across the U.S.... Read More
This month's payrolls beat of 943k jobs brings the Fed one step closer to 'substantial further progress'.... Read More
Recently we have looked at some of the impressive monthly or YTD returns in stocks, bonds, commodities and currencies. This month we take a step back to see how these huge swings have affected returns over a longer timeline.... Read More
Whether due to the reopening of the global economy, fiscal stimulus, or a stock market that continues to reach new highs, investors have piled into equities for most of 2021.... Read More
A look at the size of various markets compared to the U.S. economy... Read More
The Fed's holdings of Treasury securities continues to grow and remains larger than all other central banks' holdings combined.... Read More
Shelter costs, which have been the sleeping giant in the inflation debate, are beginning to reflect higher rents across the U.S.... Read More
There are still over 6 million fewer jobs in the U.S. than there were prior to the pandemic. Despite solid gains in leisure and hospitality jobs the past few months, the industry is still over 2 million jobs below pre-pandemic levels.... Read More
Recently we have looked at some of the impressive monthly or YTD returns in stocks, bonds, commodities and currencies. This month we take a step back to see how these huge swings have affected returns over a longer timeline.... Read More
Active equity funds continue to charge 10x the fees of passive equity funds.... Read More
The Fed's holdings of Treasury securities continues to grow and remains larger than all other central banks' holdings combined.... Read More
Transitory categories such as airline fares and used cars and trucks posted huge price increases again in May. More importantly, shelter costs may be coming out of their slumber.... Read More
There are still over 7 million fewer jobs in the U.S. than there were prior to the pandemic. Despite solid gains in leisure and hospitality jobs the past few months, the industry is still over 2 million jobs below pre-pandemic levels.... Read More
Several unrelated commodities moved higher in May as investors continued to debate the likelihood of sustained inflation.... Read More
Despite stocks massively outperforming bonds since QE began in 2009, bond funds have seen much larger inflows.... Read More