The Oil Omen

The Oil Omen

  This week, I want to revisit a chart that we featured on the blog around this time last year. It shows the year-over-year change in WTI crude oil prices going back decades. In simple terms, it measures how much oil prices have risen over the past 12 months....
Too Much Debt

Too Much Debt

  Too much debt can create problems. That’s true for individuals, corporations, and—it turns out—even the stock market. This week’s chart illustrates why. The chart above compares the S&P 500 stock index (gold line, top) to margin debt levels (green line,...
VIX Playbook

VIX Playbook

  When markets come under pressure like they have in recent weeks, I always find it helpful to consult what we call the “VIX Playbook.” It’s based on the CBOE Volatility Index, or what you might have heard referred to as Wall Street’s “Fear Gauge.” It measures...
It’s Been a While

It’s Been a While

  It’s been a while since we’ve seen a meaningful pullback in the stock market. Specifically, our chart above shows that it’s been 206 days since the last time the Nasdaq-100—the tech-heavy U.S. stock index—declined more than 10% from a high, the fourth longest...
Bond Boost

Bond Boost

  Despite all the consternation and hoopla surrounding the stock market, AI disruption, and all the rest, one asset class actually had a pretty good month: bonds. U.S. Treasury bonds, in particular, did well in February. As our Chart of the Week shows, the...
Valuation Gap

Valuation Gap

  Over the last decade, investing has often felt like “just own U.S. stocks and move on.” This week’s chart shows why. After the Global Financial Crisis, U.S. and international stocks were valued pretty similarly. But then large-cap tech took off. Earnings were...