Bond Volatility – MOVE Index Stocks remain sensitive to every move in yields, but falling rate volatility could clear a path higher for the S&P 500, even with interest rates still elevated. Image: The Daily…

U.S.-Listed Spot-Gold ETF Weekly Flows Gold ETFs are back in favor, with money flowing in again as retail demand firms, central banks keep buying, and the macro backdrop turns more supportive. Image: Goldman Sachs FICC…

Largest Contributors to the YTD Change in NTM EPS for MSCI AC World Most of the Technology sector’s positive earnings revisions have come from its more cyclical areas, particularly semiconductors and related hardware. Image: Goldman…

U.S. Household Equity Ownership by Wealth Percentile Call it the American Dream or a widening divide. The top 1% now hold about half of U.S. market wealth. The bottom half? Just 1%. The gap has…

Bitcoin and Software Bitcoin has largely tracked software stocks in recent years. The reset earlier this year has turned into a rebound, and both have cleared near-term resistance to establish short-term uptrends.. Image: Topdown Charts

Cumulative Bull vs. Bear Markets (Points) Bear markets don’t just trim gains. They can erase most of the inflation-adjusted upside from an entire bull run. Which is why a late-cycle drop is never just noise.…

Percent of S&P 500 Stocks with Dividends > 10-Year Treasury Yield The income trade has reversed. In July 2016, 63.4% of S&P 500 stocks yielded more than the 10-year U.S. Treasury. Today, fewer than 4.5%…

S&P 500 Price Rebased to Sept 1 = 100 of Each Midterm Years Midterm years tend to weigh on stocks, and September deserves extra care. Since WWII, the S&P 500 has fallen an average of…

Volatility – VIX Index Average Summer calm often gives way to autumn volatility. Are markets braced for a rougher ride ahead? Image: Bloomberg

AAII Asset Allocation U.S. retail investors turned more optimistic into August, lifting their stock allocation to a year-to-date high of 71.1%. For this crowd, it’s a vote of confidence in equities. Image: Daily Chartbook

S&P 500 Median Monthly Realized Volatility – Midterm Election Years vs. All Years Midterm years usually bring more turbulence to the S&P 500, particularly in October, while the market waits to see who ends up…