I'm going old school here with a chart of M1 (blue) and the velocity of M1 (orange). The fiscal and monetary responses last year pushed M...

While stocks had a very good year in 2020, many commodities also did well. The top chart highlights how commodities have performed versus...

Banks have underperformed YTD as the KBW Bank Index is down 16.9% while the S&P 500 is up 13.4% through Friday 12/11. U.S. banks entered ...

November returns were exceptional for equities. A string of positive vaccine news following the election boosted sentiment and expectatio...

Sector leadership has changed in recent months. Some attribute the shift to positive news on the vaccine front since the election but the...

Risk in equity and bond markets have dropped to near pre-spring COVID-19 lockdowns. Implied volatility in the S&P 500 and NASDAQ-100 edge...

Large-cap stocks continue to outperform small-caps this year on a rolling 12-month basis. The S&P 500 index (blue line) increased 11.8% f...

There have been many discussions on whether bonds, particularly U.S. Treasury notes and bonds, will continue to provide diversification a...

Here is an update to my previous posts on Fastenal, a wholesale distributor of industrial and construction supplies. It is only one compa...

Drought conditions continue to worsen across much of the U.S. with 44% of land area now at some level of drought. If the abnormally dry c...

Coffee prices have been volatile in the last year, with the contract for December 2020 futures exceeding $1.45 in late 2019 and dropping ...

Volatility of the NASDAQ-100 spiked in the spring and quickly fell as stocks rebounded. However, volatility (orange line) remained elevat...

Although U.S. crude oil production dropped dramatically from highs early this year, crude stocks continue at levels above seasonal averag...

The high yield spread (red line) has fallen from March highs to near its 10-year average of 4.96%. The spread peaked this year on March 2...

Growth stocks have outperformed value on a trailing 12-month basis by the largest differential since the dot-com bubble. The return of th...

Hurricane Laura Cat 4 as it approaches coast near Texas/Louisiana border. From an energy infrastructure perspective, the likely path will...

Drought conditions persist in much of western U.S. Besides the headlines coming out of California, some other key areas are experiencing ...

Equities continue to outperform commodities. During the last decade commodities have not only lagged stocks but have absolute declines in...

There has been a significant rebound in used car prices from the lows in April. According to the Manheim Used Vehicle Value Index, prices...

Gold volatility, as measured by the gold etf, has come off of highs but still elevated compared with recent history (black line). Vol als...