After a strong spring and summer rally, U.S. equity markets have been treading water for the last month or so now.

After another year of rapid growth, the US ETF industry is evolving into price-based segments, each with distinct product offerings and market leaders. Overall, net inflows into US-listed ETFs year-to-date have exceeded 2024’s annual inflow record

The cost of a house has risen relative to the price level or to the average hourly earnings of production and nonsupervisory workers. What about real interest rates? These are most relevant for the non-liquidity-constrained agents.

Bitcoin ETFs see $254M in outflows as the market downturn pushes investors underwater for the first time since launch.

Globally, central banks have begun the next major easing cycle with a jaw-dropping 320 rate cuts already implemented since the cycle began a mere 24 months ago.

Equity exposure as a percentage of the market portfolio is a leading indicator of out- and underperformance for the asset class: the pinnacle comes before a market fall and the nadir before a rebound.