From the excellent research team at Gavekal, the above graph shows that small business hiring in the U.S. is going down and this is typically a leading indicator regarding U.S. unemployment rates.

By: Ryan Lemand, PhD

Commercial real estate risk has changed over the last few years. Hotel and hospitality default risk rose following the lockdown period of the pandemic, but has fallen in recent years as people return to travel and vacation.

By: Robert Spendlove

Active Management performance is Cyclical

-index/benchmark issues (e.g. large cap concentration)

By: Callum Thomas

This is simply incredible… At 2.6 trillion USD, Nvidia’s market cap is now 890 billion USD higher than all of the companies in the S&P 500 Energy sector (combined!).

By: Till Christian Budelmann

"All-time high number of passengers passed through TSA checkpoints at US airports last weekend."

By: Daily Chartbook

Many of us know the saying "history often rhymes, but never repeats". In my view, that couldn't be more true of the chart below. This represents the ratio of SOX (Philadelphia Semiconductor Index) / SPX (S&P 500).

By: Oliver Loutsenko

A primer on stock market valuations: do they matter?

By: Alfonso Peccatiello

Apartment renters are signing longer leases than ever -- often at lower rates than otherwise, allowing property managers to better protect occupancy exposure against oncoming new supply. Win/win.

By: Jay Parsons

The chart shows the change in the S&P 500's market capitalization, which is a good proxy for the returns calculated by S&P.

By: James Bianco

The spread between the Earnings Yield vs 3m T-Bill Rate is a reliable Long-Term signal for getting Onboard Uptrends when high/positive and getting Defensive later in the cycle when low/negative.

By: Callum Thomas