Bitcoin
Bitcoin was the world’s first cryptocurrency and decentralized digital currency. The first bitcoin transaction occurred in early 2009 and has since grown worldwide to a mainstream financial asset. It is often considered volatile, as seen in our first chart, but one can argue...
Our monthly market valuation updates have long had the same conclusion: US stock indexes are significantly overvalued, which suggests cautious expectations for investment returns. This analysis focuses on the P/E10 ratio, a key indicator of market valuation, and its correlation with inflation and the 10-year Treasury...
January has flown by and it’s been a bit of a whirlwind. The shortened holiday week of the 20th handed us the worst day for the market since October. The following week the S&P 500 hit an all-time high of 7,000. Gold and...
The yield on the 10-year note finished February 6, 2026 at 4.22%. Meanwhile, the 2-year note ended at 3.50% and the 30-year note ended at 4.85%.
The chart below overlays the daily performance of several Treasury bonds, starting from the pre-recession equity market peaks,...
The S&P 500 experienced a mid-week slump before rebounding on Friday with its strongest single-day gain since May. The index ended the week down -0.1% but remains within reach of a new record high. The index is now 0.66% off its all-time high...