https://www.twocenturies.com/blog daily 0.75 2026-02-10 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1574880906053-KPS1O4ABZQ0931RI9918/shutterstock_1383693842.jpg Blog https://www.twocenturies.com/blog/2026/2/10/day-got-split-in-two monthly 0.5 2026-02-10 https://www.twocenturies.com/blog/2025/12/28/dec-2025-market-update-trend-reversal monthly 0.5 2025-12-29 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5f4861c2-044c-4f29-8e68-569ff0dcc447/koyfin_20251228_072800914.png Blog - Dec 2025 Market Update: Trend Reversal? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/bf7b9e1b-6862-4d6f-8290-86b042a28538/koyfin_20251228_073150112.png Blog - Dec 2025 Market Update: Trend Reversal? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/94bf3c1e-1af6-4e0d-a1f7-8a57fd9974b0/koyfin_20251228_075510331.png Blog - Dec 2025 Market Update: Trend Reversal? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9920db97-d430-4430-9afe-a7a50418ca71/koyfin_20251228_075639776.png Blog - Dec 2025 Market Update: Trend Reversal? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ba369cde-4aaf-4de5-bf75-3d654ba27785/Screenshot+2025-12-28+at+8.27.09%E2%80%AFPM.png Blog - Dec 2025 Market Update: Trend Reversal? - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8141b459-462b-4439-b518-c53144a30aa1/Screenshot+2025-12-28+at+8.26.53%E2%80%AFPM.png Blog - Dec 2025 Market Update: Trend Reversal? - Make it stand out Source: S&P Dow Jones Indices https://www.twocenturies.com/blog/2025/11/11/nov-2025-market-update-high-beta-is-the-new-alpha monthly 0.5 2025-12-04 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f6fda950-22f9-4447-9d5f-29fd0e767919/koyfin_20251111_105425870.png Blog - 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Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/53bf0582-b8ad-498a-bd1d-e06278b2e2e9/koyfin_20251111_123729007.png Blog - Nov 2025 Market Update: High Beta is the New Alpha - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/897363ea-cd09-4370-83f6-b049579ac629/uST_curve_oct20025.png Blog - Nov 2025 Market Update: High Beta is the New Alpha - Make it stand out Source: https://www.ustreasuryyieldcurve.com https://www.twocenturies.com/blog/2025/10/12/october-2025-market-update-knockin-on-leverages-door monthly 0.5 2025-12-04 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2d57a522-33a5-4cc6-aff0-e54ab853e5d0/koyfin_20251013_044450820.png Blog - October 2025 Market Update: Knockin' on Leverage's Door - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/515744b8-2924-46e0-ba35-38c7fbefffa3/koyfin_20251014_090553266.png Blog - October 2025 Market Update: Knockin' on Leverage's Door - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0e6ac956-4308-4f81-98d1-a2ce59ed71af/koyfin_20251013_044349231.png Blog - October 2025 Market Update: Knockin' on Leverage's Door - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a1f5c89b-d39b-48e3-ae2b-12335884a3d0/debit_balance.png Blog - October 2025 Market Update: Knockin' on Leverage's Door - Make it stand out Source: FINRA https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/fe765c3e-0771-4568-ae20-249962dbbc1d/equity_val.png Blog - October 2025 Market Update: Knockin' on Leverage's Door - Make it stand out Source: https://am.jpmorgan.com/us/en/asset-management/institutional/insights/market-insights/guide-to-the-markets/guide-to-the-markets-slides-us/equities/gtm-forwardpe/ https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/12d7e597-d45f-424b-ae40-23d6e6973e2c/koyfin_20251013_081924677.png Blog - October 2025 Market Update: Knockin' on Leverage's Door - Make it stand out NVDA is the ticker for shares of NVIDIA Corp, the semiconductor company whose GPU chips have come to dominate the AI landscape. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/34eb83fe-071d-44ed-930d-2581719f7f90/fredgraph-4.png Blog - October 2025 Market Update: Knockin' on Leverage's Door - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2025/10/14/can-ai-invent-something-as-valuable-as-ai monthly 0.5 2025-12-04 https://www.twocenturies.com/blog/2025/9/18/sep-2025-market-update-some-like-it-hot monthly 0.5 2025-09-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0e165a62-5f1e-40d9-a4ef-e867732d2ec9/inflation.png Blog - Sep 2025: Market Update: Some Like it Hot - Make it stand out Source: Federal Reserve Bank of Atlanta https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/218189e9-8ecf-4289-8e8b-8536f4a38fd0/atlanta-fed_underlying-inflation-measures.png Blog - Sep 2025: Market Update: Some Like it Hot - Make it stand out Source: Federal Reserve Bank of Atlanta https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d68ecba0-be75-49ee-9481-e8bc6f15828e/fredgraph-2.png Blog - Sep 2025: Market Update: Some Like it Hot - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c8928eec-57b2-4f84-9dd1-63ff5f629194/GDPNow_2.png Blog - Sep 2025: Market Update: Some Like it Hot - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b75c2e6e-baef-467d-95f1-3f4ca245e5ba/Washington_Monthly.png Blog - Sep 2025: Market Update: Some Like it Hot - Make it stand out Source: Washington Monthly, based on initial estimate of 2q2025 GDP https://washingtonmonthly.com/2025/08/04/the-u-s-economy-is-stumbling/ https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9cc2fa5a-24b2-4527-8fc6-768b953e2a90/koyfin_20250913_081456813.png Blog - Sep 2025: Market Update: Some Like it Hot - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6362d19d-725a-4edf-9906-39fc6681c193/koyfin_20250913_081611405.png Blog - Sep 2025: Market Update: Some Like it Hot - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs-3pjps-bd6xw-r7msz-d3dhj-ctlc8-sb9kp-49hgw-3j5yt-46zwn monthly 0.5 2025-08-11 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0dfa3bb0-960f-4b6a-8b69-675af6783b06/koyfin_20250805_024629632.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3cfc3f69-ff1c-4e92-acc4-6ee8c94552ca/koyfin_20250805_025119723.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a8b71224-35ac-4bbc-b881-886844e0237f/koyfin_20250805_033945034.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d0ea03a4-0ca9-42e4-9db2-b0154886835d/koyfin_20250805_025008135.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ea614a94-d736-4b7b-9647-a4faed418a15/fredgraph+%281%29.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/697771b6-1f63-4bcb-a23c-516aa7392aa2/fredgraph+%289%29.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7c3936e8-9a9f-40e4-a2d5-60fd36619444/fredgraph+%2810%29.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3ec24d11-45f9-4cad-ad2d-2dc421cd3d67/earnings.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b3780911-3e5c-42f3-b484-d20fcd836e6c/revenues.png Blog - August 2025 Market Update: No Easing Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs-3pjps-bd6xw-r7msz-d3dhj-ctlc8-sb9kp-49hgw-3j5yt monthly 0.5 2025-08-05 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4619ceeb-2f0a-4ddd-9904-6e8b44060aae/koyfin_20250708_034209168.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/323eebaf-a07d-4853-9695-d46808466164/koyfin_20250709_125449036.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9460c3c1-05f1-45b4-a164-05958c22c078/koyfin_20250708_034452904.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/23080b60-0ccd-4f12-b617-00e42f1b8276/factors.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Source: S&P Dow Jones Indices, as of June 30, 2025 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e5c06b19-8cca-45a2-94af-4a548cdf71a0/fredgraph-25.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/697771b6-1f63-4bcb-a23c-516aa7392aa2/fredgraph+%289%29.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7c3936e8-9a9f-40e4-a2d5-60fd36619444/fredgraph+%2810%29.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/26326eb1-cf12-4347-8176-71aca4d5a0b3/fredgraph-22.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/81345018-66d1-4eac-889f-0ce1628e287a/fredgraph-23.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e7eeb98b-ab28-4d97-af1b-b00d68e5fe3e/bankruptcy_filings.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Source: www.uscourts.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/31068c0c-9fb5-41c0-95e4-210f61e733fc/fredgraph-27.png Blog - July 2025 Market Update: To Ease or Not to Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs-3pjps-bd6xw-r7msz-d3dhj-ctlc8-sb9kp-49hgw monthly 0.5 2025-06-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3966cbd4-6560-4d9c-a767-7193318719d6/koyfin_20250618_125908387.png Blog - June 2025 Market Update: Policy Dilemma - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0fc89f0e-5161-4238-925b-db1371b21e85/koyfin_20250618_123722230.png Blog - June 2025 Market Update: Policy Dilemma - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/697771b6-1f63-4bcb-a23c-516aa7392aa2/fredgraph+%289%29.png Blog - June 2025 Market Update: Policy Dilemma - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7c3936e8-9a9f-40e4-a2d5-60fd36619444/fredgraph+%2810%29.png Blog - June 2025 Market Update: Policy Dilemma - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5827b069-f2c8-4b82-bae0-4f8c21e810c7/yield_curve.png Blog - June 2025 Market Update: Policy Dilemma - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/26326eb1-cf12-4347-8176-71aca4d5a0b3/fredgraph-22.png Blog - June 2025 Market Update: Policy Dilemma - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/81345018-66d1-4eac-889f-0ce1628e287a/fredgraph-23.png Blog - June 2025 Market Update: Policy Dilemma - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/65bff51d-5417-4e79-9bce-315b35ccd42f/fredgraph-24.png Blog - June 2025 Market Update: Policy Dilemma - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs-3pjps-bd6xw-r7msz-d3dhj-ctlc8-sb9kp monthly 0.5 2025-06-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f7422a90-f3bb-449d-b848-5bc32d0c51a2/koyfin_20250527_100136547.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0537b1ae-5218-46c6-8f47-bbccbb4fa17a/koyfin_20250527_100532471.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9ace69c1-a61e-4ab4-861c-5d981967a7ee/koyfin_20250527_105932131.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/545d7809-fffc-499d-a754-eea0351a3f7f/fredgraph+%287%29.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/99e27eff-960d-40ec-8d74-40e5733151ad/fredgraph+%288%29.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7e02957d-a015-4fbd-aaaa-c2d6f487d1a6/earnings.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e83ec379-3319-4fbd-8c97-5c6fc6c7ba0f/revenues.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3e2fb74b-e16b-4cdc-9025-6a85c83312d4/margins.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ba04b099-7775-4168-9a0b-abde1cce494e/fredgraph-9.png Blog - May 2025 Market Update: Tariff Turmoil - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs-3pjps-bd6xw-r7msz-d3dhj monthly 0.5 2025-04-20 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b10fbf29-5c03-4192-abeb-c69005e49a74/koyfin_20250413_075533319.png Blog - April 2025 Market Update: Volatility and De-Leveraging - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c89149a7-3269-4796-979c-abb9900e3294/koyfin_20250413_075735821.png Blog - April 2025 Market Update: Volatility and De-Leveraging - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4cb2380f-88a9-4c11-8032-f7d8eec61a2d/HF_repo.png Blog - April 2025 Market Update: Volatility and De-Leveraging - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8e4d4344-f079-49e5-b096-8cb7811079ec/DMB_black.png Blog - April 2025 Market Update: Volatility and De-Leveraging - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/db25b1a1-942f-44c7-9f4c-b1111f0031bb/yardeni_val.png Blog - April 2025 Market Update: Volatility and De-Leveraging - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs-3pjps-bd6xw-r7msz-d3dhj-ctlc8 monthly 0.5 2025-04-20 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d13f3b30-7159-43de-821a-bf8ec583726a/koyfin_20250324_120623982.png Blog - March 2025 Market Update: Gold Shines through the Fog - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/34ba2479-891e-4065-87bf-3d7322903bdd/koyfin_20250324_122344045.png Blog - March 2025 Market Update: Gold Shines through the Fog - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0feffdde-850e-40aa-8d72-0a3f8d5ca5ee/koyfin_20250324_123134882.png Blog - March 2025 Market Update: Gold Shines through the Fog - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dd32bdec-35a7-41c7-b28d-5106d7b2550c/koyfin_20250324_123539886.png Blog - March 2025 Market Update: Gold Shines through the Fog - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b64a957f-b50d-4380-8836-44aad99fd4ad/fredgraph+%285%29.png Blog - March 2025 Market Update: Gold Shines through the Fog - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d8cc3e6d-94e1-45ae-8c68-b87e977bb4fe/atlanta-fed_sticky-price-cpi-2.png Blog - March 2025 Market Update: Gold Shines through the Fog - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4cbc3155-e55d-44a0-9088-df35346aff94/earnings.png Blog - March 2025 Market Update: Gold Shines through the Fog - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ba04b099-7775-4168-9a0b-abde1cce494e/fredgraph-9.png Blog - March 2025 Market Update: Gold Shines through the Fog - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs-3pjps-bd6xw monthly 0.5 2025-02-19 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/19ca7762-8904-403b-a630-d7a467446552/koyfin_20250210_032302335.png Blog - February 2025 Market Update: Golden Start to the Year - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/76410cf9-aa5e-4b69-91b7-db1a6c22bba2/koyfin_20250210_032440152.png Blog - February 2025 Market Update: Golden Start to the Year - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2196f328-3844-449a-a274-cc78eb256a64/koyfin_20250216_081040539.png Blog - February 2025 Market Update: Golden Start to the Year - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b5a51182-1cf6-4de0-b97c-405a59f238d0/fredgraph-7.png Blog - February 2025 Market Update: Golden Start to the Year - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5761f362-ebed-4abc-9f28-2d591af001aa/atlanta-fed_sticky-price-cpi-3.png Blog - February 2025 Market Update: Golden Start to the Year - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b15601f1-9c38-4e2e-bbf8-eafac3082e3a/earnings.png Blog - February 2025 Market Update: Golden Start to the Year - Make it stand out Source: FactSet https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0560bee3-5480-4140-9075-b3076d6b3339/revenues.png Blog - February 2025 Market Update: Golden Start to the Year - Make it stand out Source: FactSet https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs-3pjps monthly 0.5 2025-01-14 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dc09e879-ff62-4fd3-a4f6-6b3a06fdbeee/koyfin_20250109_075105107.png Blog - January 2025 Market Update: No Year-End Rally - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1c3e37a8-2059-4337-803d-34d8f46b2da8/koyfin_20250109_080313158.png Blog - January 2025 Market Update: No Year-End Rally - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/adbf12ba-90c9-4982-812e-e42ffe5bba81/Factors.png Blog - January 2025 Market Update: No Year-End Rally - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7a3e43c4-951e-487e-a13b-a610354c8680/yardeni.png Blog - January 2025 Market Update: No Year-End Rally - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/31551515-5381-465e-9161-1ef0d8f1ee7a/fredgraph-5.png Blog - January 2025 Market Update: No Year-End Rally - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1410a181-e3f4-40c3-9659-61ba75b772bc/atlanta-fed_sticky-price-cpi-2.png Blog - January 2025 Market Update: No Year-End Rally - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3b1f17a0-1892-468f-9fd4-b44b9b9341dd/fredgraph-6.png Blog - January 2025 Market Update: No Year-End Rally - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t-ytfzs monthly 0.5 2024-12-23 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/526fc7d8-ca97-4ce8-b661-bbaa9faf688e/koyfin_20241209_073937275.png Blog - December 2024 Market Update: Small Stands Tall - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a38d7e71-61da-4830-a303-76b67178f369/koyfin_20241209_075537727.png Blog - December 2024 Market Update: Small Stands Tall - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4a5a0ef1-cd6f-4e06-a854-bf0d11a3b6fc/fredgraph-4.png Blog - December 2024 Market Update: Small Stands Tall - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e264c07b-0f14-4622-806d-4253544c01ab/atlanta-fed_sticky-price-cpi.png Blog - December 2024 Market Update: Small Stands Tall - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw-akj4t monthly 0.5 2024-11-16 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9b5ca47b-18fa-451c-8903-001afea375bf/koyfin_20241112_122625302.png Blog - November 2024 Market Update: U.S. Large Cap Equities Remain Preeminent - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), and EEM (iShares MSCI Emerging Markets ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c2274bd9-1169-43d4-bcb9-e07cf88e285a/koyfin_20241112_014608595.png Blog - November 2024 Market Update: U.S. Large Cap Equities Remain Preeminent - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), and MCHI (iShares MSCI China ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7498dc06-536b-444d-b03e-33371b6464ce/YC_oct2024png.png Blog - November 2024 Market Update: U.S. Large Cap Equities Remain Preeminent - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/aa8f3c3b-a133-4ce9-ba48-fac78671947b/fredgraph-3.png Blog - November 2024 Market Update: U.S. Large Cap Equities Remain Preeminent - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/340515cd-ae01-4a83-a5da-48c52eb8831c/atlanta-fed_sticky-price-cpi-2.png Blog - November 2024 Market Update: U.S. Large Cap Equities Remain Preeminent - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/801af98f-8c83-41e3-98bd-9a528f9e7a16/koyfin_20241116_032543943.png Blog - November 2024 Market Update: U.S. Large Cap Equities Remain Preeminent - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky-xa7cw monthly 0.5 2024-10-08 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c29446c4-e3ef-4f3a-97d5-8a47cb22c3d5/koyfin_20241004_124204802.png Blog - October 2024 Market Update: To Ease or Not To Ease - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), EEM (iShares MSCI Emerging Markets ETF in orange), and MCHI (iShares MSCI China ETF in dotted red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8b5a197a-6d31-4b53-bfb0-e42b9ffdd980/koyfin_20241004_054502335.png Blog - October 2024 Market Update: To Ease or Not To Ease - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), and MCHI (iShares MSCI China ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/bdcae8f3-8b89-4b25-9f45-45f9c6779fb9/yc_sept24.png Blog - October 2024 Market Update: To Ease or Not To Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a7b7a699-4c79-43f8-ac23-8a12f3a907cd/Euro_HICP.jpg Blog - October 2024 Market Update: To Ease or Not To Ease - Make it stand out Source: Eurostat https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6704b823-1f1e-4a86-bf13-c4b186d5b1a7/Japan_CPI.jpg Blog - October 2024 Market Update: To Ease or Not To Ease - Make it stand out Source: Japan Government Statistics https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/65268fcf-e2e9-4267-9760-38296167d59d/fredgraph+%2810%29.png Blog - October 2024 Market Update: To Ease or Not To Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0e2487c2-46ca-4877-ae5d-bb60864f407f/fredgraph+%289%29.png Blog - October 2024 Market Update: To Ease or Not To Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f8b63f26-b8ef-4b83-9fb2-3fbf422dcdfa/fredgraph+%286%29.png Blog - October 2024 Market Update: To Ease or Not To Ease - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk-2m7ky monthly 0.5 2024-09-12 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f6d1ac4a-9082-40e5-b2f5-0b8faf8346de/koyfin_20240908_023912742.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), EEM (iShares MSCI Emerging Markets ETF in orange), and EWJ (iShares MSCI Japan ETF in dotted red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/76bca037-d2da-4acf-882c-496ad4f33c7f/August_factors.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6b403047-8fb9-47ee-a443-a1619ca1d0dc/July_factor.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b6bd46f0-239c-43f3-8a67-8eaf2225eece/mom_august.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0edd3656-c668-4fc6-80f9-f3a522204273/fredgraph+%284%29.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f7cb5f04-e8e1-4082-88b7-30e861ca809a/YC_aug.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f8b63f26-b8ef-4b83-9fb2-3fbf422dcdfa/fredgraph+%286%29.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3810cbb3-0981-43eb-bbe1-a7e4eaa6d03f/fredgraph+%288%29.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e92ad1da-05b4-4caf-b839-5389d6a8259c/fredgraph+%287%29.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7725ea37-59b9-4b8a-a938-45ba6515add5/fredgraph+%282%29.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/84681cb3-5d56-462e-b156-b2db7e690185/koyfin_20240909_044701988.png Blog - September 2024 Market Update: Rotation or Recession? - Make it stand out This chart shows the performance of various consumer related stocks in August 2024. WMT (Walmart Inc. in orange), COST (Costco Wholesale Corp. in yellow), ROST (Ross Stores, Inc. in green), TJX (The TJX Companies, Inc. in red), MSCI Emerging Markets ETF in orange), DLTR (Dollar Tree, Inc. in purple) and DG (Dollar General Corporation in blue). https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz-bktpk monthly 0.5 2024-09-09 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/376c57bc-3df5-4c77-b0a0-a333b14c512d/koyfin_20240808_123421181.png Blog - August 2024 Market Update: uh-Moh - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6d0e2bd1-6ab5-4001-8f25-03965385270d/koyfin_20240808_124516090.png Blog - August 2024 Market Update: uh-Moh - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6b403047-8fb9-47ee-a443-a1619ca1d0dc/July_factor.png Blog - August 2024 Market Update: uh-Moh - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3da4cb45-7857-4d15-aa6d-f24bf1d0c989/Twelvemonthfactor.png Blog - August 2024 Market Update: uh-Moh - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7d5a9af3-b322-47ba-b9a3-83d499207953/koyfin_20240808_014052015.png Blog - August 2024 Market Update: uh-Moh - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in blue), GLD (SPDR Gold Trust in yellow), DXY (U.S. Dollar Index in green), and IEF (iShares 7-10 Year Treasury Bond ETF in purple). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/58b6f5fe-6a49-4d7d-aad3-254af0fef22e/fredgraph+%281%29.png Blog - August 2024 Market Update: uh-Moh - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ff29bfc3-e7ea-4066-95ab-eee690505e3a/fredgraph.png Blog - August 2024 Market Update: uh-Moh - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7725ea37-59b9-4b8a-a938-45ba6515add5/fredgraph+%282%29.png Blog - August 2024 Market Update: uh-Moh - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/24a980ed-4cb9-488c-8a29-b6da56afd703/fredgraph-2.png Blog - August 2024 Market Update: uh-Moh - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d932c972-09c4-4cfd-9efa-413375f067b9/earnings.png Blog - August 2024 Market Update: uh-Moh - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/13b15089-f17a-4d32-9212-15fa26eb8672/revenues.png Blog - August 2024 Market Update: uh-Moh - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754-2lsxz monthly 0.5 2024-08-08 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/98d3ccd4-bf9d-4dc6-be2d-9e1b16137ec4/koyfin_20240707_111833666.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5e2bee03-75d9-45d5-b6b5-85b5d45742eb/koyfin_20240707_112128499.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ff0ad050-c8c6-4cd8-9587-162cf80f9d29/SP_factors.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8c40878d-2391-4f08-8ac5-10dc51902e86/SP_factors_4.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Source: S&P Dow Jones Indices https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3fab3dd4-1685-415a-8d33-b43244bf6ed8/SP_factors_2.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/49c71fff-c86d-4801-90d7-7ba78219ae15/koyfin_20240707_112639400.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), GLD (SPDR Gold Trust in yellow), DXY (U.S. Dollar Index in green), JNK (SPDR Bloomberg High Yield Bond ETF in orange), IEF (iShares 7-10 Year Treasury Bond ETF in blue), and TLT (iShares 20+ Year Treasury Bond ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/58b6f5fe-6a49-4d7d-aad3-254af0fef22e/fredgraph+%281%29.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ff29bfc3-e7ea-4066-95ab-eee690505e3a/fredgraph.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7725ea37-59b9-4b8a-a938-45ba6515add5/fredgraph+%282%29.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b397af5e-ff50-4005-b6c1-2af8071daf17/fredgraph+%286%29.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/46fcfab8-4be6-4bc6-af9b-e7cafaf68f29/fredgraph+%287%29.png Blog - July 2024 Market Update: Momo in the Driver's Seat - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb-ba754 monthly 0.5 2024-07-11 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dcb0630e-96db-41ac-be2d-c778a890a009/koyfin_20240613_104015258.png Blog - June 2024 Market Update:April Showers Bring May Flowers - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f89af8c5-4d63-4d19-8bb6-a42618fab3d5/koyfin_20240613_104116368.png Blog - June 2024 Market Update:April Showers Bring May Flowers - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/46f48fb7-45c9-4c44-aa55-f2f7eaa0c1ff/YC_May2024.png Blog - June 2024 Market Update:April Showers Bring May Flowers - Make it stand out Source: www.treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3c82beb4-7a5b-4645-8e37-ab850190b4fb/fredgraph.png Blog - June 2024 Market Update:April Showers Bring May Flowers - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/afe56f93-9c4d-4309-9e92-cdb01cf1dbd4/fredgraph+%281%29.png Blog - June 2024 Market Update:April Showers Bring May Flowers - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/01f6d465-5574-42cf-b5a7-e5cb5b6ad387/fredgraph+%282%29.png Blog - June 2024 Market Update:April Showers Bring May Flowers - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3a38344c-ce60-4da5-a956-70b68b1242b7/fredgraph+%284%29.png Blog - June 2024 Market Update:April Showers Bring May Flowers - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/87699f46-d90b-4cc6-946f-7fbb6f7275c0/fredgraph+%285%29.png Blog - June 2024 Market Update:April Showers Bring May Flowers - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up-g68lb monthly 0.5 2024-05-16 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5508f865-ea1c-4019-822d-e927e0e05465/koyfin_20240504_070721279.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/59453421-7ba2-4e34-b9c4-080ceb28c1f9/koyfin_20240505_034202029.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), IWM (iShares Russell 2000 ETF in grey), GLD (SPDR Gold Trust in yellow), TLT (iShares 20+ Year Treasury Bond ETF in red) and DXY (U.S. Dollar Index in green). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f8752416-ac5d-4978-81d4-cbc923e3ed55/koyfin_20240504_082648358.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/62cf3bdd-6aae-466a-9b1d-563e876b9300/fredgraph+-+2024-05-16T125244.792.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f0306371-fc4e-4307-baf8-a4b8020e09b6/fredgraph+-+2024-05-16T125003.948.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1c921db3-5bd7-446e-903b-77df141e32c8/fredgraph+-+2024-05-05T162910.050.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/264da3b6-2d71-43b6-a920-859900d5fa9a/fredgraph-86.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d90bdd3c-c348-4415-a98a-3511262b41af/fredgraph+-+2024-05-05T165448.167.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dc2f8b31-51c6-4f05-94e5-0655afe9d563/revenues_2q.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7e2f17c6-7d95-48ff-930b-47ba9cb48909/earnings_2q.png Blog - May 2024 Market Update: Markets of Confusion - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/4/13/april-2024-market-update-will-the-real-fed-funds-rate-please-stand-up monthly 0.5 2024-05-05 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6aa45f76-7f1b-451e-a9b5-461feac81622/koyfin_20240403_093107418.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6c6aceb4-7531-47cd-be99-6e33b53698a8/koyfin_20240403_093733833.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), IWM (iShares Russell 2000 ETF in grey), and MCHI (iShares MSCI China ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/72677d1b-66f8-4500-b96e-595ba6e82cb0/fredgraph+-+2024-04-12T193037.106.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/86708ca2-ba93-49d2-9439-f99e5d0d0caa/fredgraph+-+2024-04-12T193206.535.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f7e3ff6e-e559-4c01-ab11-30c6a8cf4474/fredgraph-66.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2c55500c-8f4f-495e-8adb-14f1d535406e/fredgraph+-+2024-04-05T102239.138.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a6edbbf4-0da9-44dc-b0a8-9c233e9571e4/Yardeni_PE.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7f19f6e6-5d7a-4e60-aa8c-6c469911b8db/fredgraph+-+2024-04-05T101618.705.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5b044bc2-8830-42db-b9c7-d9a9423bfff3/atlanta-fed_wage-growth-tracker-8.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/bf1abd4e-6c49-4445-bb2d-50b98880b3b9/atlanta-fed_sticky-price-cpi-2.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b070f731-eefa-4502-b9b6-e6ef8b6f299b/Fed_funds_cuts.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ad6bab68-9ec5-4e8d-b956-6f6c428b37ab/Fed+Vol.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f6e24fc1-b1ca-4b27-95d5-3e31d4c28236/fredgraph-68.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4347aa7d-b1e2-4529-9da5-5fb069228f09/levvoan_defaults.png Blog - April 2024 Market Update: Will the Real Fed Funds Rate Please Stand Up - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/3/6/march-2024-market-update-supercore-and-superfour monthly 0.5 2024-04-16 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/86c2a0e7-5c0a-4658-9cb3-f9036bb79364/fredgraph+-+2024-03-02T194831.453.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/32341f58-fd69-46a1-90dd-fd0abf8368d8/atlanta-fed_wage-growth-tracker+%285%29.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5624e3d0-4905-4956-9c5b-275ee6562e3c/fredgraph+-+2024-03-02T181135.771.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8c994521-361b-4079-a289-e8a5d05c9929/fredgraph+-+2024-03-02T181208.144.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/376474c2-c59c-456e-ac24-00e90d42ac30/koyfin_20240302_051242349.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), IWM (iShares Russell 2000 ETF in grey), and MCHI (iShares MSCI China ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1429acc7-b488-448f-a27a-f52330e1fb58/koyfin_20240302_051711333.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), IWM (iShares Russell 2000 ETF in grey), and MCHI (iShares MSCI China ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2d555c63-f046-4c33-ba07-0a9e51272e48/koyfin_20240302_094217872.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out This chart shows the performance of NVDA (NVIDIA Corporation in orange), META (Meta Platforms, Inc. in blue), AMZN (Amazon.com, Inc. in yellow), MSFT (Microsoft Corporation in purple), SPY (SPDR S&P 500 Index ETF in grey), GOOGLE (Alphabet Inc. in red), AAPL (Apple Inc. in green), and TSLA (Tesla, Inc. in blue/grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a67b2bb8-ea2f-4122-9ac9-17758a926201/YC_Feb292024.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out Source: www.treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c36de984-0b25-42b7-99c9-d1ba84aea185/fredgraph+-+2024-03-02T214718.137.png Blog - March 2024 Market Update: Supercore and Superfour - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/2/5/february-2024-market-update-juggling-act monthly 0.5 2024-04-16 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/61db1d79-36b0-479c-94a4-bc990aadbf9c/koyfin_20240202_120321363.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), IWM (iShares Russell 2000 ETF in grey), MCHI (iShares MSCI China ETF in red), and EWJ (iShares MSCI Japan ETF in green). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6a60fc35-5261-48d0-b0fb-b5ee0ce8e554/YC_Jan312024.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Source: www.treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/69905e6a-6968-44d4-acac-bbe00ede7c44/fredgraph+%2896%29.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a1e1dac0-6ecb-4d8f-ac3b-dcf7b6747c18/fredgraph+%2897%29.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/63fcb8d8-6f43-4585-ba66-94f2b49bec61/atlanta-fed_wage-growth-tracker+%284%29.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/86337cc3-869c-4cb8-bc9c-788c8d7e9761/us-population-pyramid-2020-infographic.jpg Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a3140966-01e6-4bb2-b2b2-400e6fb96ae1/Calamos_debtwall.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1a61cf73-4095-4b0d-b286-bf14e6f34998/Bloomberg_maturitywall.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3b2af76a-91c8-4697-8dfb-db4f275d9864/fredgraph+-+2024-02-02T140145.851.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/eaa45f89-48f2-495a-b1c2-4b47e1f1779e/fredgraph+%2898%29.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/cf14bb81-eda5-4cff-9ec0-f25db4ec849b/fredgraph+-+2024-02-02T141857.092.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2af34f8a-7f03-43fc-94fb-41881b196058/fredgraph+-+2024-02-02T142148.714.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3f980de9-44f9-4c06-a03d-b4901d84e948/revenue_growth_1q2024.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4c22dfe1-638e-4160-997a-5149fb510437/fredgraph+%2899%29.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/39318801-f77b-4997-892d-147c3b6c57c6/fredgraph+-+2024-02-02T144938.239.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/553b2e75-9721-4ac7-98a5-d1b549517c0a/fredgraph+%28100%29.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0fb500f0-d7b5-49b1-a9e8-87a8012488e1/fredgraph+-+2024-02-03T172832.193.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/cd8f1c74-51c7-486c-8ac1-0bb7bf29d179/fredgraph+-+2024-02-02T193321.986.png Blog - February 2024 Market Update: A Difficult Juggling Act - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2024/1/8/january-2024-market-update-a-swift-rebound-in-equity-markets-at-year-end monthly 0.5 2025-02-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6391e2f6-5beb-4092-be97-686d35490058/koyfin_20240105_094837999.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/24bf326a-b709-4afb-bc6c-bb810f8ee407/koyfin_20240105_095036533.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/fa6080b9-318f-4572-9c95-706f55326410/koyfin_20240107_012522829.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/87645ea7-f64f-4a0a-aa2c-c00b36983e4a/koyfin_20240107_014741950.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out These charts show the performance of SPY (SPDR S&P 500 Index ETF in purple), SPHB (Invesco S&P 500 High Beta ETF in green), and SPLV (Invesco S&P 500 Low Volatility ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1c4c938f-29f3-48e7-a60e-c80ca7a45fd4/YC_Dec2023.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out Source: www.treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/418dc736-8ce2-4151-bc2e-9fcb15562b97/fredgraph-50.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ff0aae0c-6710-426e-aee8-3ef0eb38e119/fredgraph-51.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9ba4feb2-549e-414a-ae5d-5b0d31274bb2/fredgraph-52.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b7e65ec9-5648-4bdb-869d-041a96342cbb/chart.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1186e818-aa53-46fd-a625-6fcd732c56c9/fredgraph-53.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b4019823-223d-484f-bf77-c61dc2d32f41/fredgraph-54.png Blog - January 2024 Market Update: A Swift Rebound in Equity Markets at Year End - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/12/10/december-2023-market-update-that-de-escalated-quickly monthly 0.5 2024-01-10 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f67315ac-3230-4faf-9ff1-f0763a6ce2b2/koyfin_20231210_081821867.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in grey), and TLT (iShares 20+ Year Treasury Bond ETF in dashed green). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/eefe5bcf-e9b2-470a-8d5a-b85bd0fc70a3/YC_Nov30.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out Source: www.treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/82cdba68-0f37-4031-81f0-37017023e59c/Bear_Steepening.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2dfeb7b8-9591-4757-ae9d-8f1c61a66582/fredgraph+%2893%29.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9a79db64-5776-46b1-972d-ccd283fdc509/fredgraph+%2895%29.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b1c95df7-d741-44df-a555-5133b571b4ae/fredgraph+%2895%29.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/cd68c43d-9a91-427c-bc20-eceac8c5f5a4/atlanta-fed_wage-growth-tracker-6.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e79ca7ca-654a-4c44-b039-ee9201e9feb7/fredgraph-49.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1f132485-fe8f-4934-ada7-68074501d47e/koyfin_20231210_105434895.png Blog - December 2023 Market Update: That De-Escalated Quickly - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in grey), and GLD (SPDR Gold Trust in dashed gold). https://www.twocenturies.com/blog/2023/11/16/check-in monthly 0.5 2023-11-17 https://www.twocenturies.com/blog/2023/11/7/november-2023-market-update-the-bond-vigilantes-ride-again monthly 0.5 2024-01-10 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/09ce2c78-a900-4569-825b-c24e71cfb5cc/koyfin_20231103_040618892.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in grey), and TLT (iShares 20+ Year Treasury Bond ETF in dashed red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2cc65567-79e8-4ca3-9c5e-b4f6003dc974/YC_10312023.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/82cdba68-0f37-4031-81f0-37017023e59c/Bear_Steepening.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/aebc8f32-a309-4d8d-8add-2920c5c9fd2a/fredgraph+%2889%29.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/47eb2b26-001f-4cae-b3d9-6d57fb1b81db/fredgraph+%2888%29.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2039eb5a-8d50-46c3-967b-3aa87cff4c27/fredgraph+%2890%29.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dd2567c4-b8db-42a3-9802-91b62c3f6123/atlanta-fed_wage-growth-tracker+%283%29.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/81c25a76-c3e3-4306-b58a-69d480939e27/revenue_earnings.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/452e10ed-cd4a-4492-8af3-bfe28bb1b650/fredgraph+%2891%29.png Blog - November 2023 Market Update: The Bond Vigilantes Ride Again - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/10/4/october-2023-market-update-the-unholy-trinity-surfaces monthly 0.5 2025-02-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/72615e4d-6bf3-489a-a5ae-41de9878f82d/koyfin_20231003_041232351.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8f9b0463-f225-4921-8e52-56bdd9db9afb/koyfin_20231003_042300057.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), WM (iShares Russell 2000 ETF in grey), GLD (SPDR Gold Trust in yellow), TLT (iShares 20 Plus Year Treasury Bond ETF in red), CO1 (Brent crude oil futures contract in black), TBX (ProShares Short 7-10 Year Treasury ETF in light blue), and DXY (U.S. Dollar Index in green). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b8f7671b-53d3-4bc8-8e0d-e301d2cbacf3/fredgraph+%2874%29.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/62aed5f5-5d15-4b80-a5ae-2647aaca209d/fredgraph+%2873%29.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/47d744ce-285d-45b3-9d7c-0b1b0a11b005/fredgraph-35.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4f6b9da8-7916-4bc4-a311-886c80725a50/GDP_now.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0b1625d1-a89a-45c7-a77f-01d32222e35e/atlanta-fed_wage-growth-tracker+%281%29.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/482ed605-2da6-451d-b716-e8bae24546ab/fredgraph+%2875%29.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8e2c02e2-4b84-4a88-a105-0435431e41da/fredgraph+%2876%29.png Blog - October 2023 Market Update: The Unholy Trinity Surfaces - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/9/8/september-2023-market-update monthly 0.5 2023-11-16 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0436947f-1ff7-49ed-808b-f4897034a051/koyfin_20230903_054224140.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/614d17f7-11a4-4204-aa2e-4a4ecedfdea2/fredgraph-31.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d8cdb4f4-9a1e-4146-ab09-4310460ce6fd/wti.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out This chart shows the price of a barrel of WTI crude oil (source: CNBC). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/cc4de08b-5315-450f-810d-fd6309388c0b/fredgraph-32.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0340fbab-2edb-4070-ba02-1018ada43e15/fredgraph-35.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d6c514d8-d7a9-4723-bc5e-db7cd4b59c1a/GDP_now.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8f7cc9d8-a184-47ee-9a0e-a554329d6094/atlanta-fed_wage-growth-tracker-5.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/050d7f95-b1e6-444c-9b4b-f6413c24f0a0/fredgraph-33.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0f90cd23-4828-40df-bed1-412109b3d7a0/fredgraph-36.png Blog - September 2023 Market Update: Inflation Remains Sticky - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/8/18/august-2023-market-update monthly 0.5 2025-02-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0520b177-f1bc-47ea-b1a4-fdcbcebe8480/koyfin_20230808_102627316.png Blog - August 2023 Market Update - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in dark grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5e4b478d-533f-455a-a3cb-4c195f290791/koyfin_20230808_103118464.png Blog - August 2023 Market Update - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in dark grey). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e3bb333a-43c7-47af-a353-eb847680f637/fredgraph+%2872%29.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/81906aff-27b5-4f50-b267-7cb3ecc6ed71/fredgraph+%2871%29.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/39d06716-7b36-4827-8686-7f4a19e1cd04/fredgraph+%2860%29.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6b377f9a-fda6-4fde-be49-5bedf3be5993/fredgraph+%2863%29.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/17a84b19-31cc-4a77-a654-c10d4a9b79ed/atlanta-fed_wage-growth-tracker-4.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b43066fe-fed7-4940-b0e4-1cfbd06f9572/fredgraph+%2866%29.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7e5d7f84-69e4-4040-a40d-3b1392bbefa1/co1_com.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0a4c89ce-344e-43fc-be1e-3b12662f94c3/earnings.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/859ed38c-799d-424f-8319-ffc741d4ee0a/revenues.png Blog - August 2023 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/05203c58-cfec-4a5b-abf8-2c23d83f061e/China_MLF.png Blog - August 2023 Market Update - Make it stand out This chart shows the People’s Bank of China one-year medium term funding rate versus the U.S. Federal Reserve’s federal funds rate (overnight rate) https://www.twocenturies.com/blog/2023/7/1/july-2023-market-update-strong-equity-market-rebound-continueswhat-lies-ahead monthly 0.5 2023-10-10 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/bf92b2fd-ebe5-4e50-be95-49638c5d2e98/koyfin_20230701_115558859.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in green). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/defb5388-be79-49f2-9297-96c08be07d23/koyfin_20230701_122844642.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange) and IWM (iShares Russell 2000 ETF in green). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c7b361dc-48c5-4d26-a8ca-6121901406b1/koyfin_20230701_122153795.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), IWF (iShares Russell 1000 Growth ETF in blue), IWD (iShares Russell 1000 Value ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e31121d6-208d-463b-bebf-095c34007cf0/koyfin_20230701_103946269.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), IWM (iShares Russell 2000 ETF in green), HYG (iShares iBoxx USD High Yield Corporate Bond ETF in blue), GLD (SPDR Gold Trust ETF in yellow), and TLT (iShares 20+ Year Treasury Bond ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/09e6b548-38bd-428e-8a6c-00fe4c2b43a0/koyfin_20230701_104505222.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 Index ETF in purple), IWM (iShares Russell 2000 ETF in green), HYG (iShares iBoxx USD High Yield Corporate Bond ETF in blue), GLD (SPDR Gold Trust ETF in yellow), aTLT (iShares 20+ Year Treasury Bond ETF in orange), IWF (iShares Russell 1000 Growth ETF in red), IWD (iShares Russell 1000 Value ETF in gray). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/fc7991f4-4211-4d99-9954-ef11be185e03/fredgraph-25.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b9ae2aac-5405-4c2a-9799-ce06bb80d623/fredgraph-20.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c9a56e8c-afb7-47b5-83fc-5b917a59eecf/atlanta-fed_wage-growth-tracker-3.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/07758555-7eff-4062-bacb-f178e2faa6b7/unnamed+%283%29.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out Source: John Kemp (Reuters) https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/de4bf46f-0ce2-4437-a5e3-7167da361c4b/YC_June30.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c051ce6e-e075-40e4-b956-d14e07aebb54/consumer.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a1ea755b-a232-40b3-9334-f5647b2a487a/unnamed+%284%29.png Blog - July 2023 Market Update: Strong Equity Rebound Continues...What Lies Ahead? - Make it stand out Source: John Kemp (Reuters) https://www.twocenturies.com/blog/2023/6/3/june-2023-market-update-long-lag-monetary-policy-and-large-language-models monthly 0.5 2023-10-04 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6194316f-7841-493d-84f1-4e4da388305f/koyfin_20230604_013422942.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in purple), TLT (iShares 20 Plus Year Treasury Bond ETF in green), LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF in red), HYG (iShares iBoxx $ High Yield Corporate Bond ETF in orange), IWM (iShares Russell 2000 Index in blue), and GLD (SPDR Gold Trust in yellow). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/37980487-269c-4700-a145-4fab40e54b7f/koyfin_20230603_025035044.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out This chart shows the price performance of IWF (iShares Russell 1000 Growth ETF in purple), SPY (SPDR S&P 500 Index ETF in yellow), RSP (Invesco S&P 500 Equal Weight ETF in green), IWD (iShares Russell 1000 Value ETF in blue), and SPYD (SPDR Portfolio S&P 500 High Dividend ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4fb98e6f-6a3c-43b0-8ed0-9c84a1bd1966/koyfin_20230603_025148055.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out This chart shows the price performance of IWF (iShares Russell 1000 Growth ETF in purple), SPY (SPDR S&P 500 Index ETF in yellow), RSP (Invesco S&P 500 Equal Weight ETF in green), IWD (iShares Russell 1000 Value ETF in blue), and SPYD (SPDR Portfolio S&P 500 High Dividend ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/79791b3d-0494-4cd0-a58d-3ff21c35d828/koyfin_20230603_025919412.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out This chart shows the returns for the following stocks. NVDA = NVIDIA Corporation; META = Meta Platforms, Inc.; TSLA = Tesla Inc.; AAPL = Apple Inc.; AMZN = Amazon.com, Inc.; GOOGL = Alphabet Inc.; MSFT = Microsoft Corp. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e6dddb22-05c9-4adb-a45a-a7a847d29181/koyfin_20230604_020820332.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out This chart shows the returns for the following stocks. NVDA = NVIDIA Corporation; AMD = Advanced Micro Devices, Inc.; SMCI = Super Micro Computer Inc. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5524dd60-bd18-47f9-abc8-42519cca4436/PE_yardeni.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out Source: Yardeni Research https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f5a56f40-f84d-4c04-b4f7-b00dbb9f24f5/fredgraph-21.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out This chart shows the year over year change in real gross domestic product. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/89b00213-e0f1-47ae-9b92-0a30dd248e6c/fredgraph-23.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7f0ac0bb-a804-473c-982d-987027c9a6a0/fredgraph-24.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/19458671-6c65-40a7-a2e1-bc5545f3d948/atlanta-fed_wage-growth-tracker-2.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/bf46cad5-9dc5-4b81-aa75-30c945751469/fredgraph+%2859%29.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4f0a8e5d-f45b-4857-8465-cb490a631cfa/CI_loans.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f862059a-ed29-4e71-a0c7-e717b38ce4d4/cre.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/da6a03e8-0ee5-4ade-bc5d-3f108ea95348/Untitled+5.png Blog - June 2023 Market Update: Large Liquid Mega Caps, Large Language Models, and Long Lag Monetary Policy - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/5/6/may-2023-market-update-bank-stress monthly 0.5 2023-06-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b2fb3523-77a6-45d1-9097-dc7176bd7f45/koyfin_20230506_122846678.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), and EEM (iShares MSCI Emerging Markets ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5bca2a48-eb43-45c8-b2d8-73799b6da1ad/koyfin_20230506_122824004.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), and EEM (iShares MSCI Emerging Markets ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/69f00d25-92a1-4053-a70f-7d62ad07edcf/koyfin_20230506_123823195.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in blue), XLK (Technology Select Sector SPDR ETF in green), and KRE (SPDR S&P Regional Banking ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a1475753-18c5-4533-a3fd-a0330ec2b48b/Moodys_Liqudidty.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dd397d36-9679-402a-8565-f312e3231a4f/fredgraph-17.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c11c80d0-7e48-4f0a-b1af-1e30db318ec5/C_I_lending.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Source: federalreserve.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6e94794c-a52d-4bed-b9cf-9db16063f38d/consumerloans.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Source: federalreserve.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/48b0e995-7633-4a92-b94c-489cb89ebe6f/fredgraph+%2854%29.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a636caf0-daec-4824-b8dc-f98fbf7b3993/fredgraph+%2853%29.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e65842e0-81d9-432b-8597-a06150857653/fredgraph+%2853%29.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/96f55368-8fa4-4f3c-b209-7f838019b79f/Revenues_1q2023.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dc38f78f-256b-4025-aa6d-7bd365ee5c6d/Earnings_1q23.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f7988925-b9ef-472d-8e0e-10ba2a760e92/op_margin.png Blog - May 2023 Market Update: Bank Stress Takes the Front Page from Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/4/3/april-2023 monthly 0.5 2023-05-08 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/bc57443e-44ab-4662-b281-65cf96dd83ab/koyfin_20230403_125932214.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in blue), KBE (SPDR S&P Bank ETF in purple), and KRE (SPDR S&P Regional Banking ETF) in orange. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1b579a1b-7019-4ff6-91c4-9915de37e14f/9CCAEC64-A98C-4957-BA2A-0B12C822A146.jpeg Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Source: Bloomberg https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7006d1d0-5b7c-4506-a1dd-3c521e007472/IMG_0193.JPG Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Source: @MaxfieldOnBanks, The San Francisco Examiner - December 27, 1981 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e8c2b2e7-6fa1-49d7-aead-3d17c5ec8b83/C_I_lending.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Source: federalreserve.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ae5ddf20-e72f-4461-9460-71f713979907/CRE.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Source: federalreserve.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8c99b50d-0f30-4b9e-84fd-5f3d60951bed/CMBS_deliquencyrate.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out This chart shows delinquency. special servicing, and grace rates for CMBS (commercial mortgage-backed securities). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7259ba98-8fb4-4b01-bb09-9abba9459766/CMBS_deliquencybalance.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b99e3eb3-0f04-4916-8570-75dba7cf72c6/fredgraph+%2843%29.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3d6365fe-5aac-4dde-87c0-da1ab0b05196/Treasury_YC_03312023.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a49188ba-e6be-4fbb-8693-7d31458bc206/ISM_PMI_March2023.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Source: March 2023 Manufacturing ISM® Report On Business® https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6e910d67-4bbb-4d60-8ec8-679d6f64c638/ISM_neworders+copy.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Source: March 2023 Manufacturing ISM® Report On Business® https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d25b7bf4-c57e-4f02-9976-62cd5372dd70/Caixin_PMI.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7c6c80be-bfad-4368-8cdc-a3f09868bf06/fredgraph+%2844%29.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/36c3bf7b-2919-40af-ab24-9fa00bd9e0ca/OperatingMargin.png Blog - April 2023 Market Update: Bank of Charts, pun intended - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/3/4/march-2023-market-update-waiting-for-a-recession monthly 0.5 2023-04-10 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6fd0b075-c8ac-4f84-b9ee-036115f46ddf/koyfin_20230304_045658321.png Blog - March 2023 Market Update: Waiting Patiently - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), and EEM (iShares MSCI Emerging Markets ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ef893bab-4107-4cb5-b897-e83c90cc46c6/revenue_4q22.png Blog - March 2023 Market Update: Waiting Patiently - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/26eafb9a-f20f-400b-a312-779cafe0b9bc/earnings4q22.png Blog - March 2023 Market Update: Waiting Patiently - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/5ed34e6a-3dda-46d4-9f6c-a94fc88d52f2/Profit_Margins.png Blog - March 2023 Market Update: Waiting Patiently - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/da44bb41-15d0-41fd-ade4-3f48656baaa9/atlanta-fed_wage-growth-tracker.png Blog - March 2023 Market Update: Waiting Patiently - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/2/5/february-2023-market-update-stranger-things-to-begin-2023 monthly 0.5 2023-03-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3837b1f5-0be4-46b3-99ab-5b9d1e088c3f/JAN2023_factors.png Blog - February 2023 Market Update: Stranger Things (in the U.S. Equity Market) - Make it stand out Source: S&P Dow Jones Indices LLC. This chart shows equity factor performance in January 2023, using the S&P DJI factor methodology. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ee130dd9-d546-42bb-80bf-99bf984d0b35/YTD_2002v1.png Blog - February 2023 Market Update: Stranger Things (in the U.S. Equity Market) - Make it stand out Source: S&P Dow Jones Indices LLC. This chart shows equity factor performance for the calendar year 2022, using the S&P DJI factor methodology. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ef8b3887-3539-4e11-84b1-796db8213a95/g_vs_v.png Blog - February 2023 Market Update: Stranger Things (in the U.S. Equity Market) - Make it stand out Source: S&P Dow Jones Indices LLC. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9e702489-799e-4a06-9851-315523e370a0/koyfin_20230205_053515282.png Blog - February 2023 Market Update: Stranger Things (in the U.S. Equity Market) - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in purple), EFA (iShares MSCI EAFE ETF in blue), EEM (iShares MSCI Emerging Markets ETF in orange), GLD (SPDR Gold Trust ETF in dotted yellow), HYG (iShares iBoxx USD High Yield Corporate Bond ETF in dashed light blue), TLT (iShares 20+ Year Treasury Bond ETF in dashed light blue) and IEF (iShares 7-10 Year Treasury Bond ETF in dashed red.) https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/378a6767-7722-408a-b362-6ff98e237453/revenue_1q.png Blog - February 2023 Market Update: Stranger Things (in the U.S. Equity Market) - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/df8dd29f-d315-40fc-8a4d-dc3411f1f884/earnings_1q.png Blog - February 2023 Market Update: Stranger Things (in the U.S. Equity Market) - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/71074803-082b-4f3c-93c1-185d41c4fd3f/Treasury_Jan31.png Blog - February 2023 Market Update: Stranger Things (in the U.S. Equity Market) - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0c129977-23e5-4e7e-b51a-178317cb1bcf/fredgraph+%2833%29.png Blog - February 2023 Market Update: Stranger Things (in the U.S. Equity Market) - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2023/1/5/january-2023-market-update-amp-outlook-questions-that-loom-large monthly 0.5 2023-02-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b34fc9c4-14d5-4b01-9a24-d14d16f3543c/fredgraph+%2824%29.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ca9a534a-aff0-48d0-ad92-06eea1d99b02/FFR_ForbesAdvisor.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Source: Forbes Advisor https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/decf4828-8f7d-44ef-8627-5d4e75d87862/YC_Dec2022.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/560d4ed3-c434-4302-a212-4131bfe36cf9/koyfin_20230105_013712459.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out This chart shows the price performance of IEF (iShares 7-10 Year Treasury Bond ETF in purple) and TLT (iShares 20+ Year Treasury Bond ETF in blue). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/66db34d5-5b5e-4405-b097-6ad8f856ecf5/koyfin_20230105_050349062.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in purple), and IWG (iShares Russell 1000 Growth Index ETF in blue). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7ceb5a88-8122-424d-96b5-d89211a868f8/shipping.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Source: Flexport https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2acb4874-1f57-4420-8849-1d487c7a2202/BLS.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4706af28-e327-4e3c-a133-c7e0443776e1/UN-population-projection-medium-variant.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/eee4058b-5980-44d8-8dff-c6ab820be806/OperatingMargins.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Source: spglobal.com, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/931b2314-f8f0-49d7-9d9b-beea0aa0e03b/Yardeni_PE.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Source: Yardeni Research https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4aaee56f-feff-4433-bad8-c8859d70fca2/fredgraph+%2827%29.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Note: Data from July 1, 2012 to July 1, 2022 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/48164055-c9d1-4aa5-b071-40b3f119c670/CreditCard_Balance_Dec2022.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Source: New York Fed Consumer Credit Panel/Equifax https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/051dad18-3309-4bc8-82cb-7ea4481d4bfd/LeverageLoans_EatonVance.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Source: Eaton Vance, data through September 30, 2022 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a13253d7-1e2d-454d-95b9-4111d1e09145/LeverageLoansDistrssed_EatonVance.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Source: Eaton Vance, data through September 30, 2022 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3978b291-685f-4698-80c3-356383d0082e/fredgraph+%2828%29.png Blog - January 2023 Market Update & Year Ahead Outlook: Credit Risk Takes the Wheel - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2022/12/5/december-2022-market-update-cryptonite-captivates-markets-rally monthly 0.5 2023-01-11 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/abc78485-fea3-42ee-ac30-30274f316afe/koyfin_20221205_121034530.png Blog - December 2022 Market Update: Markets Rally, Cryptonite Captivates - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 Index ETF in yellow), TLT (iShares 20+ Year Treasury Bond ETF in red) and DXY (U.S. Dollar Index in green) . https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9c853f16-428b-43ea-9d05-30599755df77/koyfin_20221205_121246814.png Blog - December 2022 Market Update: Markets Rally, Cryptonite Captivates - Make it stand out This chart shows the price performance of SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in purple), EEM (iShares MSCI Emerging Markets ETF in orange), and IWM (iShares Russell 2000 Index ETF in yellow), TLT (iShares 20+ Year Treasury Bond ETF in red) and DXY (U.S. Dollar Index in green) . https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7fe32877-7ecd-4653-b691-f2da7bdca253/fredgraph-13.png Blog - December 2022 Market Update: Markets Rally, Cryptonite Captivates - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c3c40483-9496-46c4-8d31-41db404eed10/fredgraph-10.png Blog - December 2022 Market Update: Markets Rally, Cryptonite Captivates - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/73556d3f-6352-4ed2-a21e-bda0578420a2/fredgraph-12.png Blog - December 2022 Market Update: Markets Rally, Cryptonite Captivates - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dca0908c-2257-4deb-a917-d0d37d792529/containerships.png Blog - December 2022 Market Update: Markets Rally, Cryptonite Captivates - Make it stand out Source: Freightwaves.com https://www.twocenturies.com/blog/2022/11/8/november-2022-market-update-whatsupp-with-some-of-these-stocks monthly 0.5 2022-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f87706ef-2a5f-4e09-bd8c-a4eeeceea88a/koyfin_20221108_062953818.png Blog - November 2022 Market Update: WhatsUpp with Financial Markets, META, and Crypto - Make it stand out This chart shows the price performance SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in orange), EEM (iShares MSCI Emerging Markets ETF in purple), and MCHI (iShares MSCI China ETF in yellow). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/54bb2ce4-9a07-427a-916a-2cb6b6c8fb72/koyfin_20221108_063251941.png Blog - November 2022 Market Update: WhatsUpp with Financial Markets, META, and Crypto - Make it stand out This chart shows the price performance SPY (SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in orange), EEM (iShares MSCI Emerging Markets ETF in purple), and MCHI (iShares MSCI China ETF in yellow). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6a203e06-2975-4959-aeac-c44a358f8aff/fredgraph-8.png Blog - November 2022 Market Update: WhatsUpp with Financial Markets, META, and Crypto - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/16b184ab-8949-4e7a-a80a-07dc1ccbca75/Treasury_1022.png Blog - November 2022 Market Update: WhatsUpp with Financial Markets, META, and Crypto - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1fa1e6a7-1750-4d7e-873d-0d6888c83421/revenue_growth.png Blog - November 2022 Market Update: WhatsUpp with Financial Markets, META, and Crypto - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4e14acfa-6a9f-42a2-a22c-7f13438bd30c/earnings_growth.png Blog - November 2022 Market Update: WhatsUpp with Financial Markets, META, and Crypto - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/43ea09e6-4c59-4c11-aef5-5d4769b41c10/EC.png Blog - November 2022 Market Update: WhatsUpp with Financial Markets, META, and Crypto - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2022/10/6/october-2022-market-update-no-time-to-panic monthly 0.5 2022-11-11 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e96a31f3-c32e-46a7-9c52-803d8f0c7b91/koyfin_20221006_095920360.png Blog - October 2022 Market Update: No Time to Panic - Make it stand out This chart shows the price performance of IAU (iShares Gold Trust in yellow), JNK (SPDR Bloomberg High Yield Bond ETF in gray), LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF), TLT (iShares 20+ Year Treasury Bond ETF in red), EFA (iShares MSCI EAFE ETF in purple), SPY (SPDR S&P 500 Index ETF in blue), and EEM (iShares MSCI Emerging Markets ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1a4808f9-56a7-4ee0-9f6a-754dacc892a4/fredgraph+%2817%29.png Blog - October 2022 Market Update: No Time to Panic - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/cfc58fd1-8f4c-4a28-b968-cb94f6917330/YC_09302022.png Blog - October 2022 Market Update: No Time to Panic - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/591f4ce1-b7d5-4b2d-ad75-7b111b7ab5c4/fredgraph+%2818%29.png Blog - October 2022 Market Update: No Time to Panic - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b01defc7-71a3-473b-b06f-1cdc1dff4086/koyfin_20221006_104726063.png Blog - October 2022 Market Update: No Time to Panic - Make it stand out This chart shows the performance of the DXY Index, an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies. https://www.twocenturies.com/blog/2022/9/4/september-2022-market-update-the-more-enduring-the-conflicts-the-stickier-the-inflation monthly 0.5 2022-10-07 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/80511c2d-68dd-4d4d-bc28-fadc5c452c6e/fredgraph+%2815%29.png Blog - September 2022 Market Update: The More Enduring the Conflicts, the Stickier the Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9bf4ea80-f722-46d8-937c-60066eb33d7a/inflation_Europe.png Blog - September 2022 Market Update: The More Enduring the Conflicts, the Stickier the Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b633416c-8f8e-4028-b911-5ff98fbf35a6/Germany_PPI.png Blog - September 2022 Market Update: The More Enduring the Conflicts, the Stickier the Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/697944c9-2609-4669-adb9-13e3c09fb16a/koyfin_20220904_061251115.png Blog - September 2022 Market Update: The More Enduring the Conflicts, the Stickier the Inflation - Make it stand out This chart shows the price performance of SPX (S&P 500 Index in blue), JNK (SPDR Bloomberg High Yield Bond ETF in orange)., EFA (iShares MSCI EAFE ETF in purple), and TLT (iShares 20+ Year Treasury Bond ETF in gray). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dc501333-6f6f-441d-a501-d877cdbfcd53/Treasury_Aug2022.png Blog - September 2022 Market Update: The More Enduring the Conflicts, the Stickier the Inflation - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8b015ea3-ee2d-418f-8b3c-c6c14957d19e/China_PMI.png Blog - September 2022 Market Update: The More Enduring the Conflicts, the Stickier the Inflation - Make it stand out Source: National Bureau of Statistics of China. This chart shows the Purchasing Manager Index (PMI) of the manufacturing industry. The metric registered 49.4 percent in August, lower than the threshold for the normal level of activity, https://www.twocenturies.com/blog/2022/8/1/august-2022-market-update-inflation-or-recession-insights-from-earnings-season monthly 0.5 2022-09-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f4f75511-49cf-4c4b-bf81-0406cf1a8b47/koyfin_20220801_033033242.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out This chart shows the price performance of QQQ (Invesco QQQ ETF, which tracks the Nasdaq-100 Index, in purple), RTY (iShares Russell 2000 ETF in orange), SPY (SPDR S&P 500 Index ETF in blue), and JNK (SPDR Bloomberg High Yield Bond ETF in green). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8856608a-ea94-477b-bfb0-f71ab83d3c89/FS_earnings.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/460bfa68-636a-44b8-95e5-8da2d51532ad/FS_revenues.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8ba47353-35ba-4684-9430-8ab189b060ca/Treasury_YC_July.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8da92de9-6d45-4047-be63-e69c962eb1cb/EuroDollarFutures.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Source: CME, Two Centuries Investments. This chart shows the Eurodollar Futures rates, calculated as 100 minus the settlement price, for various maturities. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/44ae8407-5d93-4775-b6b4-60698dc5f3c4/fredgraph+%2811%29.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e6368754-7535-42ad-97cd-aa625b81762c/koyfin_20220801_090926213.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2ba2a8c8-c861-41cc-bb4a-1b4903627f24/koyfin_20220801_093625330.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/fb629184-3aa5-4b38-befd-76c544107124/ISM_neworders.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Source: Institute for Supply Management Report on Business. This chart shows shows the Manufacturing ISM New Order Index. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e16009e4-c623-42e7-8d89-591ebec4aaff/ISM_Inventories.png Blog - August 2022 Market Update: Inflation or Recession? Insights from Earnings Season - Make it stand out Source: Institute for Supply Management Report on Business. This chart shows shows the Manufacturing ISM New Order Index. https://www.twocenturies.com/blog/2022/7/7/july-2022-market-update-have-the-markets-bottomed-inflation-or-recession-these-are-the-questions monthly 0.5 2022-08-02 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a37ffbc2-c252-4fc4-b387-6991d4ef7531/koyfin_20220707_024744701.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out This chart shows the price performance of SPY (the SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in orange), EEM (iShares MSCI Emerging Markets ETF in purple), and JNK (SPDR Bloomberg High Yield Bond ETF in yellow). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8d3da797-3498-4410-887e-fbaf1f904ad3/koyfin_20220707_024926062.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out This chart shows the price performance of SPY (the SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in orange), EEM (iShares MSCI Emerging Markets ETF in purple), and JNK (SPDR Bloomberg High Yield Bond ETF in yellow). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3b29e738-7c5b-4160-80c0-aa33a027decb/koyfin_20220707_025117128.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out This chart shows the price performance of SPY (the SPDR S&P 500 Index ETF in blue), TLT (iShares 20+ Year Treasury Bond ETF in purple), and GLD (SPDR® Gold Shares ETF in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8bc37891-36c3-4694-96a8-f65dc346a7f5/yardeni_June2022.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out Source: Yardeni Research, Inc. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a29ea26f-8012-40dd-8697-f4c19f26700a/yardeni_operatingmargin.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out Source: Yardeni Research, Inc. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9647943e-0ff1-4aa0-bc6f-7817509eacb2/fredgraph+%288%29.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/bca004ed-291c-46b5-9b95-fc06f28f24b6/fredgraph+%289%29.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/927b8e59-e4ed-4063-b427-09a01b19b8a0/Treasury.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e42a683c-ff0b-4f68-ba20-ac5e0aba97d4/Eurodollar.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out Source: Alhambra Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9c76ead4-4141-4bd1-93a4-ed14d1808a38/fredgraph+%2810%29.png Blog - July 2022 Market Update: Have the Markets Bottomed? Inflation or Recession? These are the Questions. - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2022/5/30/june-2022-market-update-stagflation-recession monthly 0.5 2022-06-07 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/18d4d65d-86cc-4239-9196-622b97b1dba7/koyfin_20220531_061753761.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out This chart shows the price performance of SPY (the SPDR S&P 500 Index ETF in blue). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d3bd14a0-5eff-415f-8700-3550918c8311/koyfin_20220531_062249726.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out This chart shows the price performance of SPY (the SPDR S&P 500 Index ETF in blue), XLK (the Technology Select Sector SPDR Fund in yellow), XLC (the Communications Services Select Sector SPDR Fund in orange) and XLY (the Consumer Discretionary Select Sector SPDR Fund in purple). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ade29ef0-9516-4dfe-a43c-add282807b64/revenues.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/53fb3c11-f299-4fd2-9f10-b99c9e47623c/earnings.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e227244e-b62e-4419-8b41-5592f76f319c/netprofitmargin.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/66d0928e-424b-482f-be3f-a99bd1e91a13/koyfin_20220531_094504841.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out This chart shows the price performance of AMZN (Amazon.com, Inc. in green), WMT (Walmart Inc in purple), and TGT (Target Corporation in blue). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c46b4097-f31f-4686-94f0-45a04c5c61d0/Treasury_May22.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out Source: treasury.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/fd179f29-9a31-45af-ba44-ac564aa7c079/fredgraph+%286%29.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/e0a67330-a66f-4d2b-bd9f-460eac539269/koyfin_20220602_064622397.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out This chart shows the performance of AGG (iShares Core U.S. Aggregate Bond ETF in purple), JNK (SPDR Bloomberg Barclays High Yield ETF in orange), and TLT (iShares 20+ Year Treasury Bond ETF in blue). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/225c8073-f5e1-4196-a5ac-b869b2ff34b1/koyfin_20220602_083141359.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out This chart shows the price of WTI crude oil futures. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/274a2d0e-5d8c-4416-94de-8062d2836eae/koyfin_20220602_083559421.png Blog - June 2022 Market Update: Waiting for the Fog to Go - Make it stand out This chart shows the price of US natural gas futures in mmbtu (1 Million British Thermal Units) on the New York Mercantile Exchange. https://www.twocenturies.com/blog/2022/5/1/may-2022-market-update-the-times-they-are-a-changin monthly 0.5 2022-07-11 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/750a229d-e712-4bab-8daf-481f64248269/Treasury_yc.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out Source: treasury.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3f16d5a2-bc22-4c6c-8a09-25df8a836bde/koyfin_20220501_091350422.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out This chart shows the price performance of SRLN (SPDR Blackstone Senior Loan ETF in dashed green), JNK (SPDR Bloomberg Barclays High Yield ETF in orange), LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF in dashed purple), and TLT (iShares 20+ Year Treasury Bond ETF in blue). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1606d4aa-05f5-4db2-99c7-f913a2ba1c7d/target-rate-probabilitie.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out Source: CME https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b9d5f8e1-b137-4880-a015-223d92baef77/koyfin_20220501_094207522.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out This chart shows the price performance of SPY (the SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in orange), and EEM (iShares MSCI Emerging Markets ETF in purple). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2870764a-dc28-40b0-8abf-e65d31406992/koyfin_20220501_112220377.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out This chart shows the price performance of SPY (the SPDR S&P 500 Index ETF in blue), EFA (iShares MSCI EAFE ETF in orange), and EEM (iShares MSCI Emerging Markets ETF in purple). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/f8687bf1-5a9f-480d-a8fd-c61db58177e2/revenue.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b1db6335-8f7d-4de6-aed3-1a8e24d0cd3f/earnings.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8223e1ad-0677-44b6-b225-510da38cc8b8/koyfin_20220501_025805630.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out This chart illustrates the recent rise of the USD vs. the Yen, Euro, and Yuan. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d380a80b-2a61-43f8-8793-a88e3df43549/CME+Liquidity+Tool+-+Book+Depth+-+May+01%2C+2022.jpeg Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/2c4458ce-b714-40ba-b8b1-a21f22199332/CME+Liquidity+Tool+-+Book+Depth+vs.+Bid+Ask+Spread+-+May+01%2C+2022.jpeg Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/661cf218-b141-4ef6-8799-1caa076e5a36/koyfin_20220501_093042627.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/22d94572-c162-43bd-b67b-deaa933616fd/fredgraph+%285%29.png Blog - May 2022 Market Update: A Mayday Call from Bond Investors - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2022/4/12/value-amp-momentum-in-the-world-of-low-expected-returns monthly 0.5 2022-04-12 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/12529ab5-324f-499d-ab66-0755a1dce6b4/Screenshot+2022-04-10+211338.png Blog - Value Factor Comes Back - Make it stand out “Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least” by Antti Ilmanen (2022) https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4bf9d31c-9f27-4f63-8350-83d9ac69c08d/Presentation2.jpg Blog - Value Factor Comes Back - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2022/4/4/april-2022-market-update-the-times-they-are-a-changin monthly 0.5 2022-05-02 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/640459d9-172b-49ef-82c6-a124df552d27/fredgraph-3.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/48a463a3-33cd-4ff3-bcfc-bcfd29c8e99f/fredgraph-4.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d35fc149-e73e-4764-a7df-d9c35fed28ad/fredgraph-5.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1a291915-fde8-4091-b868-5a77573fad69/YC_0322.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/cb84a4a3-e1c4-4f93-b1d1-ca8dad10b600/koyfin_20220404_081106556.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out This chart shows the price performance of IEF (iShares 7-10 Year Treasury Bond ETF in blue) and TLT (iShares 20+ Year Treasury Bond ETF in red). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/bf98a5e7-7ec9-4524-b57d-def3ce781537/koyfin_20220405_110031774.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out This chart shows the price performance of GLD (SPDR Gold Trust in gold), TLT (iShares 20+ Year Treasury Bond ETF in red), SPX (the S&P 500 Index in dotted purple), EFA (iShares MSCI EAFE ETF in dotted orange), and EEM (iShares MSCI Emerging Markets ETF in dotted black). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/71e9a33f-494d-4637-ad97-f023929111e0/fredgraph-6.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0e7aa62a-a470-41be-b194-e20cb58913cb/IEA.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out Source: IEA https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/ffb1173f-198c-4119-ba7f-78cebda37509/fredgraph+%284%29.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/949cb987-a0c4-417d-a4cf-a870d697b03d/fredgraph+%282%29.png Blog - April 2022 Market Update: The Times They Are A-Changin' - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2022/3/7/march-2022-market-update-diversification-the-high-risk-regime monthly 0.5 2022-03-07 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3aedd0f7-9e0a-45f5-a87a-f0e2de048fe7/9DA056E3-4119-4D43-BBF0-0F905CE9E8D3.png Blog - March 2022 Market Update: Diversification - The High Risk Regime - Make it stand out This chart shows the intraday price moves for the SPX (S&P 500 Index in blue) and TLT (iShares 20+ Year Treasury Bond ETF in purple). There is a clear pattern. When the S&P 500 Index declines, TLT increases in price. When the S&P 500 Index increases, TLP decreases in price. The negative correlation is readily apparent. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/71112057-5244-4869-8144-bcbb56a14b49/koyfin_20220304_020409426.png Blog - March 2022 Market Update: Diversification - The High Risk Regime - Make it stand out This chart shows the price performance of GLD (SPDR Gold Trust in gold), TLT (iShares 20+ Year Treasury Bond ETF in purple), SPX (the S&P 500 Index in dotted red), EEM (iShares MSCI Emerging Markets ETF in dotted orange), and GBTC (Grayscale Bitcoin Trust in dotted blue). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/03f21f3e-8029-45d1-afcf-5e80131392bf/koyfin_20220302_092724496.png Blog - March 2022 Market Update: Diversification - The High Risk Regime - Make it stand out This chart shows the rise in the price of WTI crude futures (price of a barrel of oil) from $61.50 to over $110 in one year’s time. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3f003b2a-8335-41a3-a59b-625ef1495694/unnamed.jpg Blog - March 2022 Market Update: Diversification - The High Risk Regime - Make it stand out This chart shows the massive spike beginning in late 2021 in the price of natural gas in Europe. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7c5ff56c-d2a9-4c5c-8411-0f1a539de5b9/OilInventories.png Blog - March 2022 Market Update: Diversification - The High Risk Regime - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/988ec62d-6b4a-467e-a5c8-bda51c7e863b/koyfin_20220302_094856440.png Blog - March 2022 Market Update: Diversification - The High Risk Regime - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0418e807-fcaa-42aa-8da0-392f32ddd336/IEA.png Blog - March 2022 Market Update: Diversification - The High Risk Regime - Make it stand out Source: IEA https://www.twocenturies.com/blog/2022/2/20/beyond-diversification-dynamic-asset-allocation monthly 0.5 2022-03-14 https://www.twocenturies.com/blog/2022/2/18/dynamic-asset-allocation-a-strategy-investors-can-actually-buy-and-hold monthly 0.5 2025-02-18 https://www.twocenturies.com/blog/2022/2/2/february-2022-market-update-financial-market-guessing-game monthly 0.5 2022-04-15 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/295a2bd3-c989-4143-aa4e-43e637af62ed/UST_Jan2022.png Blog - February 2022 Market Update: Financial Market Guessing Game - Make it stand out Source: treasury.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c67005e1-3db3-4fac-a61d-e83237f77449/fredgraph.png Blog - February 2022 Market Update: Financial Market Guessing Game - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/456373ac-4acf-4ea6-83a9-0f97c2da2fe5/fredgraph-2.png Blog - February 2022 Market Update: Financial Market Guessing Game - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/81a6c480-38a7-4f60-bae3-df8178e9d1e2/koyfin_20220202_070441560.png Blog - February 2022 Market Update: Financial Market Guessing Game - Make it stand out This chart shows the January 2022 returns of the S&P 500 Index (ticker SPX, in blue) and the iShares Russell 1000 Growth ETF (ticker IWF, in orange). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/22f35439-3474-4203-b6e0-c1c2d9b7f4d1/koyfin_20220202_103005783.png Blog - February 2022 Market Update: Financial Market Guessing Game - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7a23566c-d6f8-4d97-baf4-6873715a6aff/fredgraph-4.png Blog - February 2022 Market Update: Financial Market Guessing Game - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a53edb93-09ae-4ab1-8065-a7f7a12a8db8/IEA.png Blog - February 2022 Market Update: Financial Market Guessing Game - Make it stand out Source: IEA https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/dbb06685-d94a-4f87-ab41-a64255fa2de7/ISI_globalE_P.png Blog - February 2022 Market Update: Financial Market Guessing Game - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2022/1/3/january-2022-market-update monthly 0.5 2022-01-05 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/55e4c621-9369-4671-9eff-8400dc1973e1/FE359275-68F6-4162-BA77-8779CBCC41E6.jpeg Blog - January 2022 Market Update: No Way to Know - Make it stand out Source: marvel.com https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b720a0e6-f23c-4c62-909f-cb4ae9230956/fredgraph+%2813%29.png Blog - January 2022 Market Update: No Way to Know - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/a2090cb4-8c1d-4aba-b84c-8730078f6a25/Factset_inflationforecasts.png Blog - January 2022 Market Update: No Way to Know - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/47175566-3c29-4f65-ba30-afbb66d881bf/koyfin_20220103_084824662.png Blog - January 2022 Market Update: No Way to Know - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 ETF Trust) in blue, EFA (iShares MSCI EAFE ETF) in purple, and EEM (iShares MSCI Emerging Markets ETF) in orange. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/0112699a-a83d-45cb-9974-f0172c35b053/koyfin_20220103_084913884.png Blog - January 2022 Market Update: No Way to Know - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 ETF Trust) in blue, EFA (iShares MSCI EAFE ETF) in purple, and EEM (iShares MSCI Emerging Markets ETF) in orange. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/d0bb4e48-c82f-4cfd-a551-233b5d514cf1/koyfin_20220103_085040138.png Blog - January 2022 Market Update: No Way to Know - Make it stand out This chart shows the performance of SPY (SPDR S&P 500 ETF Trust) in blue, EFA (iShares MSCI EAFE ETF) in purple, and EEM (iShares MSCI Emerging Markets ETF) in orange. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/455c683b-f3ad-43f4-be8b-762fdc46d14c/yardeni.png Blog - January 2022 Market Update: No Way to Know - Make it stand out Source: Yardeni Research https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/c0dfb8a1-dfdf-422a-bf5d-720a0bdeb0fc/OperatingMargins.png Blog - January 2022 Market Update: No Way to Know - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/9acbdfcb-653d-41e6-9d12-aa8628d42805/Stoxx_margins.png Blog - January 2022 Market Update: No Way to Know - Make it stand out Source: FactSet https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6397f682-31eb-4662-b2f6-e023c42379a3/Rystad.png Blog - January 2022 Market Update: No Way to Know - Make it stand out Note: 2021 discoveries are as of November 2021 https://www.twocenturies.com/blog/2021/12/8/december-2021-market-update-buckle-up monthly 0.5 2022-02-03 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/23e63c32-b18e-490b-baeb-563a5dc16124/koyfin_20211205_080835944.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4adf9dbd-7d84-4d10-b2af-4ae09b272783/CAPE.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Sources: Global Financial Data (GFD); Professor Shiller, IFC at Yale (Cowles), Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/55e41ac9-e465-4ef7-a2d9-993387ab165b/SalesGrowth.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Source: S&P Global (Howard Silverblatt), Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4ed20ff3-dc5f-41fe-a00c-12b0671bafa6/OperatingMargins.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Source: S&P Global (Howard Silverblatt), Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/b5dca220-b49a-4f18-a9d4-9619e4c193e0/MarginDebt_yoy.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Source: FINRA, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7a38376e-82c5-4b7f-82ec-193a51834ab0/MarginDebt_log.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Source: FINRA, Two Centuries Investments. This chart shows debit balances on a logarithmic scale (base 10). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/7caf169a-d911-46c2-a6b4-4b562cc8ead5/koyfin_20211206_102235424.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/41d2d1b7-d8c4-44b2-a1fd-071ce96f81bb/fredgraph-3.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/4e424333-bf4a-4986-9f16-cbcf010c9ac4/fredgraph+%2812%29.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/05b50dd5-aaf1-45a7-873b-6cdb6a69f7ee/ShippingCongestion_LA.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Source: VesselsValue, Freightwaves. The photo shows the location of container ships waiting to dock in the Ports of Los Angeles and Long Beach. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/8cc87b75-f491-4702-9f2e-f86c868bcf50/FW_congestion.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Source: Freightwaves. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/344673ec-eb85-4ec3-9e8c-0759f05f09e2/PortCongestion.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Source: Wabtec Port Optimizer, Bloomberg https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3f7aed4d-a527-4e26-9b43-5c3013f5ff47/Evergrande.png Blog - December 2021 Market Update: Buckle Up, Turbulence Ahead - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2021/12/05/market-valuation-cycles-over-the-long-run monthly 0.5 2021-12-20 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/6f002988-0f4a-4a84-b1a4-07a6a18d36a3/Slide1.JPG Blog - Lessons From The Very-Long-Run CAPE Ratio - A Warning Sign is Not an Action Plan - Make it stand out Sources: Global Financial Data (GFD); Professor Shiller, IFC at Yale (Cowles), Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/3e1724ab-b0e3-4c73-9229-91aa79e93cd3/Slide2.JPG Blog - Lessons From The Very-Long-Run CAPE Ratio - A Warning Sign is Not an Action Plan - Make it stand out Sources: Global Financial Data (GFD); Professor Shiller, IFC at Yale (Cowles), Two Centuries Investments https://www.twocenturies.com/blog/2021/11/02/november-2021-market-update-the-meta-chain-has-broken-sub-chains monthly 0.5 2021-12-09 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635613285977-MJ117EFD2UBV9T64Z8RV/8713EE83-A4FC-449F-87D8-3A8E05190170.jpeg Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635620215219-0LLA80TK6PC47PH9HQYR/portLA2.png Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out Source: MarineTraffic, October 30, 2021. Green icons represent cargo vessels. Blue icons represent tugs and special craft. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635623271532-YI9ZPUKZAWP46TYMPCE7/containers.png Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out Source: FreightWaves https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635630751409-K3HOAVPHANYVR9Y3CT74/OPM.png Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out Source: S&P Global. This chart shows operating profit margins for the S&P 500 Index on a quarterly basis. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635633647149-KQ3OMFYLGTHLKIM2411Q/revenues2q.png Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635652723546-G44JF0F6YQGM8HBXOG82/earnings2q.png Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635652985330-3U0J70V0RDQH2ZO0L00Z/sectors.png Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out Source: Fidelity. This table shows the returns for the 11 sectors of the S&P 500 Index for the month of October and year-to-date through October month end. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635716568229-KRL20URT9SA5SBGKCOE8/koyfin_20211031_030023993.png Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out This chart shows the price of a barrel of WTI crude oil over the 12 months ending October 29, 2021. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1635717250990-UADV81ND8XIQHLKL7XDE/fredgraph+%2810%29.png Blog - November 2021 Market Update: A Meta Chain with Unhappy Users - Make it stand out Source: FRED Economic Data courtesy of the Federal Reserve Bank of St. Louis. This chart shows the price of natural gas in the European Union, quoted in USD and on the same heating unit basis as US natural gas price quotes. The data series ends on September 1, 2021. https://www.twocenturies.com/blog/2021/10/3/september-2021-market-update-testing-resilience monthly 0.5 2024-03-05 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1633455491234-O7853H50I965GX5ZLAWJ/MarineTraffic2.png Blog - October 2021 Market Update: Testing Resilience - Make it stand out Source: MarineTraffic. This photograph shows the marine traffic, based on satellite imagery, near the Ports of Los Angeles and Long Beach. The green icons represent cargo ships. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1633481762745-NZUFTLK66SPEVUS69LLG/fredgraph+%284%29.png Blog - October 2021 Market Update: Testing Resilience - Make it stand out Source: U.S. Census Bureau and U.S. Bureau of Economic Analysis, Trade Balance: Goods, Balance of Payments Basis [BOPGTB], retrieved from FRED, Federal Reserve Bank of St. Louis. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1633301133897-6VLRDYPHNBL6DXMQEQ2W/wti_crude-2021-10-03.png Blog - October 2021 Market Update: Testing Resilience - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1633302287542-FO2M3105I7CMA2Q1JZNI/natural_gas-2021-10-03.png Blog - October 2021 Market Update: Testing Resilience - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1633538841016-ASJ5H9H4NG6L67DQY7EW/EuropeanNatGas.png Blog - October 2021 Market Update: Testing Resilience - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1633541902088-AHM7SGOW8WN4Z9Z9DNNX/koyfin_20211006_122830205.png Blog - October 2021 Market Update: Testing Resilience - Make it stand out This chart shows the performance of the S&P 500 Index (SPX) in blue, the iShares Core MSCI Europe ETF (IEUR) in green, and the iShares MSCI China ETF (MCHI) in orange. https://www.twocenturies.com/blog/2021/8/31/august-2021-market-update-lucky-7 monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1630460310103-OACZV3ZLY236I9GGBFTR/Factset_2qEarnings_US.png Blog - August 2021 Market Update: Lucky 7 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1630461040404-P48VDMQ9YJJPS7P0SQZP/Factset_2qEarnings_Europe.png Blog - August 2021 Market Update: Lucky 7 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1630463661166-DINYF75HJOBO3CCC7O7D/yardeni_Europe_pe.png Blog - August 2021 Market Update: Lucky 7 - Make it stand out Source: Yardeni Research This chart shows forward Price / Earnings ratios for different regions, using MSCI index data. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1630465706658-0LSO9WLSXG8F3PE6ET36/koyfin_20210831_094537141.png Blog - August 2021 Market Update: Lucky 7 - Make it stand out The graph shows the total return for the iShares Russell 1000 Growth ETF (IWF) in orange and the iShares Russell 1000 Value ETF (IWD) in purple for the three months ending in August 2021. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1630466594820-VSDNPUCOPESFJVOGV513/fredgraph+%283%29.png Blog - August 2021 Market Update: Lucky 7 - Make it stand out Source: St. Louis Federal Reserve Economic Data This chart shows ICE BoFA High Yield Bond Index credit spreads from December 1996 - August 2021. https://www.twocenturies.com/blog/2021/7/29/factors-are-fleeing-anomalies-not-reliable-risk-premia monthly 0.5 2025-02-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1627558201854-S47MJQ8XYK50A2EJZIVC/2.PNG Blog - Fleeting Anomalies vs Reliable Risk Premia - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1627558768865-ZTY4KVE9CAP0A0UJ2GF9/3.PNG Blog - Fleeting Anomalies vs Reliable Risk Premia - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.twocenturies.com/blog/2021/8/1/july-2021-market-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1627929903914-VH7L0GEJA993RR17QPLB/BoFA_inflation_mentions.png Blog - July 2021 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1627876825382-22ERG5LXQ319CY9QTPT5/fredgraph+%282%29.png Blog - July 2021 Market Update - Make it stand out This chart illustrates the 12 month change in CPI-U index over the last 12 years ending May 31, 2021. The chart also shows the “Core” CPI-U index, which excludes food and energy. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1627877277304-94MUMUHW6QYD37324CM4/Treasury_YC_July2021.png Blog - July 2021 Market Update - Make it stand out Source: treasury.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1627928505397-L2X91WXKRKYDRSGRPFSP/GDP_secondquarter.png Blog - July 2021 Market Update - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1627936733504-7OIE24IOH5849BDHA1IK/FactSet_revenue_2q2021.png Blog - July 2021 Market Update - Make it stand out Source: FactSet This chart shows revenue growth for S&P 500 companies that have reported earnings results by July 30. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1627940764573-NFVKGH54MCDVF25EB3NE/koyfin_20210802_034852871.png Blog - July 2021 Market Update - Make it stand out The graph shows the total return for the S&P 500 Index in blue, the iShares MSCI EAFE ETF in purple, the iShares MSCI Emerging Markets ETF in orange, and the iShares MSCI China ETF in green (dashed) for the month of July 2021. https://www.twocenturies.com/blog/2021/7/24/surprise-is-not-popular monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2021/7/1/mid-year-2021-market-update-inflation-the-favorite-vs-deflation-underdog monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1625169097976-7LVCAR3DMWEQV17BYYW5/fredgraph+%281%29.png Blog - Mid Year 2021 Market Update - Inflation (favored to win) vs. Deflation (the underdog) - Make it stand out This chart illustrates the 12 month change in CPI-U index over the last 12 years ending May 31, 2021. The chart also shows the “Core” CPI-U index, which excludes food and energy. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1625177375188-TE8UL73O1APYGIO1GC56/fredgraph.png Blog - Mid Year 2021 Market Update - Inflation (favored to win) vs. Deflation (the underdog) - Make it stand out This chart shows the market’s implied inflation rate (on average) over the five-year period that begins five years on various dates over the last two years from June 28, 2019 to June 30, 2021.. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1625177658856-H7KUFT22EEKO9UNMHWQQ/fredgraph-2.png Blog - Mid Year 2021 Market Update - Inflation (favored to win) vs. Deflation (the underdog) - Make it stand out This chart shows the market’s implied inflation rate (on average) over the five-year period that begins five years on various dates over the last twelve years from June 30, 2009 to June 30, 2021.. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1625178947759-X69SQ81XBUHO51WQXXDY/Treasury_YC_June2021_v1.png Blog - Mid Year 2021 Market Update - Inflation (favored to win) vs. Deflation (the underdog) - Make it stand out Source: treasury.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1625179107424-EAB3F10GJ8F45JB86FXC/Treasury_YC_June2021_v2.png Blog - Mid Year 2021 Market Update - Inflation (favored to win) vs. Deflation (the underdog) - Make it stand out Source: treasury.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1625180598875-POGHBPZJPJU2FKWRX2FB/koyfin_20210701_060245875.png Blog - Mid Year 2021 Market Update - Inflation (favored to win) vs. Deflation (the underdog) - Make it stand out This chart shows the value of a US dollar index versus a basket of six currencies, where the Euro has the highest weight. A higher index value indicates the US dollar has appreciated in value. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1625188939150-LTNJ30RUULNSOEEEBV44/koyfin_20210701_082143276.png Blog - Mid Year 2021 Market Update - Inflation (favored to win) vs. Deflation (the underdog) - Make it stand out The graph shows the total return for the iShares MSCI Emerging Markets ETF in purple, the iShares MSCI EAFE ETF in red, and the S&P 500 Index in blue year-to-date through June 30, 2021. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1625189817411-SRW6ULJH1A3G0LMG5TJJ/Yardeni_pe.png Blog - Mid Year 2021 Market Update - Inflation (favored to win) vs. Deflation (the underdog) - Make it stand out Source: Yardeni Research, Inc. https://www.twocenturies.com/blog/2021/6/2/may-2021-market-update-strong-core-with-lumber-support monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1622508471762-OC30Y1LTPCT7C02JX6BL/fredgraph-3.png Blog - May 2021 Market Update - Lumber Supports Strong Core Inflation - Make it stand out This chart illustrates the 12 month change in CPI-U index over the last 12 years ending April 30, 2021. The chart also shows the “Core” CPI-U index, which excludes food and energy. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1622511944240-PPVJM93WT2P71KZHEBG2/LumberPrices.png Blog - May 2021 Market Update - Lumber Supports Strong Core Inflation - Make it stand out Source: Visual Capitalist. This chart illustrates the price of lumber, in units of 1000 board feet over the last 25 years. The price at the close of the month, May 28, 2021, was $1323. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1622508020979-272A8DRCRDSX15U04H8M/fredgraph.png Blog - May 2021 Market Update - Lumber Supports Strong Core Inflation - Make it stand out This chart illustrates the 12 month change in CPI-U index since 1960. The chart also shows the “Core” CPI-U index, which excludes food and energy. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1622510680460-R69YICKKIWECR9TZXZOH/fredgraph+%281%29.png Blog - May 2021 Market Update - Lumber Supports Strong Core Inflation - Make it stand out This chart shows the growth in the money supply, as measured by the M2 money stock over the last 12 years ending April 30, 2021. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1622509451920-EJYA571SO2IKVKH8XALW/AEI_pricechanges.png Blog - May 2021 Market Update - Lumber Supports Strong Core Inflation - Make it stand out Source: American Enterprise Institute https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1622517581502-L2A3HU8Y3MYCL49V4BQ8/FactSet_earnings.png Blog - May 2021 Market Update - Lumber Supports Strong Core Inflation - Make it stand out Source: FactSet This chart shows earnings growth for S&P 500 companies that have reported earnings results by May 21. For the 5% of companies yet to report earnings, the sell-side consensus for earnings and revenue growth was used. https://www.twocenturies.com/blog/2021/5/6/uk-value-factor-the-long-run-view monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620169364750-KHH0NV3STD4ZA3M82RPD/Slide2.JPG Blog - U.K. Value Factor - The 200+ Year View https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620169433362-9C3TZAJLR31P05ZP5BI7/Slide5.JPG Blog - U.K. Value Factor - The 200+ Year View https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620169401804-611905VHN928AK8KR352/Slide3.JPG Blog - U.K. Value Factor - The 200+ Year View https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620169421611-U5LERXJ9FCD0X9XRLYMC/Slide4.JPG Blog - U.K. Value Factor - The 200+ Year View https://www.twocenturies.com/blog/2021/5/2/april-2021-market-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620002170015-PIG0SDAWWJULTTXNFT3R/Factset_1q2021earnings.png Blog - April 2021 Market Update Source: FactSet This chart shows earnings growth for S&P 500 companies that have reported earnings results by April 30. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620011372000-556XH07KREWJDAE9TOKW/FiscalStimulus.png Blog - April 2021 Market Update https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620016372877-ZFM8LKQJVY5242R682FO/semis.png Blog - April 2021 Market Update This chart illustrates the increasing capacity utilization for semiconductor fabrication facilities, an indication of the shortage of available supply to meet demand. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620017342990-0JPWZ2KEJGX8LS1OUTIK/Lumber.png Blog - April 2021 Market Update Source: Bloomberg, CME https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620055186804-50INLYNDEJHHKFEKBCKO/employment.png Blog - April 2021 Market Update Source: Argent Financial https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620018676135-ORIDBYQJSN177T3IN3SQ/TreasYC_04302021.png Blog - April 2021 Market Update Source: treasury.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620057485327-TAQOKER2Y1LN5O0LVQ1D/fredgraph_HY_OAS.png Blog - April 2021 Market Update Source. St. Louis Federal Reserve Bank https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620061672991-V8V9M8B19ZF7OWQZ7B38/MarginDebt_April.png Blog - April 2021 Market Update Source: Yardeni Research https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1620059308587-BQ9GIYPJAN0R33VHKMAW/CorpBondsOutstanding.png Blog - April 2021 Market Update Source: SIFMA https://www.twocenturies.com/blog/2021/4/3/march-market-update-same-as-it-ever-was monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1617481050526-7ESBY0019615XWVVOUWO/MarginDebt.png Blog - March Market Update - Same As It Ever Was Source: FINRA https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1617484110538-HEK9S58Z5BJA577YYD45/koyfin_20210403_023954518.png Blog - March Market Update - Same As It Ever Was Source: Koyfin. This chart shows the year-to-date performance of ViacomCBS Inc. (VIAC). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1617586452555-R41UVVS3G7W33L1DNDC3/Treasury_YC_March2021.png Blog - March Market Update - Same As It Ever Was Source: treasury.gov, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1617589031524-U3ZS291MTRDJDRWZMF6W/koyfin_20210404_085426559.png Blog - March Market Update - Same As It Ever Was Source: Koyfin. This chart shows the year-to-date performance of four semiconductor stocks, Applied Materials, Inc, (AMAT), Lam Research Corp. (LRCX), Texas Instruments, Inc. (TXN), and Nvidia Corp. (NVDA) https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1617588157076-FP9A6208AXMCG7182WGJ/koyfin_20210404_084632942.png Blog - March Market Update - Same As It Ever Was Source: Koyfin. This chart shows the year-to-date performance of the iShares Russell 1000 Value ETF (IWD) and the iShares Russell 1000 Growth ETF (IWF). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1617590861592-YO9IR5TDIFJBSFH3MO6S/koyfin_20210404_094700017.png Blog - March Market Update - Same As It Ever Was Source: Koyfin. This chart shows the trailing one-year performance of a representative group of semiconductor stocks, namely Applied Materials, Inc. (AMAT), Nvidia Corp. (NVDA), and Texas Instruments, Inc. (TXN). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1617590761662-CMX8YASRKEO2BQ7E5O0O/koyfin_20210404_085426559.png Blog - March Market Update - Same As It Ever Was Source: Koyfin. This chart shows the year-to-date performance of four semiconductor stocks, namely Applied Materials, Inc. (AMAT), Lam Research Corp (LRCX), Nvidia Corp. (NVDA), and Texas Instruments, Inc. (TXN). https://www.twocenturies.com/blog/2021/3/2/february-market-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1614547526397-214YBI1BHDXUYIKAVB50/UST_YC_Feb2021.jpg Blog - February Market Update Source: treasury.gov https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1614566320764-97XMBQHGX4IYKYIWJWWC/koyfin_20210228_HG1_B1.png Blog - February Market Update This chart illustrates the recent spike in the prices of industrial metals and energy. HG1 is Copper futures traded on U.S. Nymex. B1 is Brent Crude Oil futures traded on U.K. ICE. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1614569581926-MNZ2J6YLP9GHAL4N1UPH/Factset_revenues.png Blog - February Market Update Source: FactSet https://www.twocenturies.com/blog/2021/02/17/the-new-age-of-intangibles-investing monthly 0.5 2022-02-19 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1613569222597-A1J4H705T6U9F1877ZOC/2.jpg Blog - The Age of Intangibles Investing Source: Ocean Tomo https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1610229110240-N4XGEXWYQCEW6QA1SJX0/Picture1.png Blog - The Age of Intangibles Investing -- Benjamin Graham in Security Analysis (thanks to Jason Zweig) https://www.twocenturies.com/blog/2021/2/1/january-market-update monthly 0.5 2021-02-01 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1612103932907-JEQZDJ6NSV6Q44JGSNX0/Screenshot+2021-01-31+083523.png Blog - January Market Update Source: Yahoo Finance. This chart shows GME stock price from Monday January 25, 2021 to Friday January 29, 2021. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1612104375782-2DGFLJUOI93XI4BUZ4LF/koyfin_20210131_084545962.png Blog - January Market Update This chart shows the daily volume of GME shares traded on the NYSE in the month of January 2021. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1612112869230-N76YKSMAIB72PM28FC5T/koyfin_20210131_105927913.png Blog - January Market Update The graph shows the total return for the iShares Emerging Markets ETF in purple and SPDR S&P500 ETF in blue for January 2021. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1612113535003-GXHUTSXB073BB9MZ672H/Screenshot+2021-01-31+111645.png Blog - January Market Update https://www.twocenturies.com/blog/2021/1/4/december-market-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1609818304286-QKETXMQRD5C20TSLNNA7/UNCTAD_US_corpdebt.png Blog - December Market Update This graph illustrates the increase in non-financial corporate debt relative to Gross Domestic Product over the last several decades. The graph does not account for the spike in non-financial corporate debt in 2020. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1609818896361-VD4YY7DRZNBSMDC5S3YX/UNCTAD_global_corpdebt.png Blog - December Market Update Source: UNCTAD https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1609819634771-UDW7RMLCOR5YFWTYURWK/BBG_NegativeDebt.jpg Blog - December Market Update This charts shows negative yielding debt (essentially debt with negative interest rates) is approaching $18 trillion. Yes, $18 trillion. https://www.twocenturies.com/blog/2020/12/5/november-market-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1607203123458-7H23NDKLJOQ3TO3ATKZU/koyfin_20201205_031751569.png Blog - November Market Update The graph shows the total return for the iShares Russell 1000 Value ETF (IWD) in purple and the iShares Russell 1000 Growth ETF (IWF) in blue from November 6, 2020 to November 30, 2020. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1607203672636-MK57ABVR1HFCQF7QIEZO/koyfin_20201205_031417600.png Blog - November Market Update The graph shows the total return for the iShares Russell 1000 Value ETF (IWD) in purple and the iShares Russell 1000 Growth ETF (IWF) in blue from November 6, 2016 to November 6, 2020. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1607208341131-6UGYK2C1P62LI5J02YIK/BBG_EBITDA_negative.png Blog - November Market Update https://www.twocenturies.com/blog/2020/11/16/dynamic-asset-allocation monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/11/12/october-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1604444124144-3HPYZ650ODY7ZZIGF8MG/koyfin_20201103_043325718.png Blog - October Market Update The graph shows the total return for the iShares Emerging Markets ETF in blue and SPDR S&P500 ETF in blue from October 2010 - October 2020. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1604444238661-Y5BTNAZT1QN1IRS3KIJY/koyfin_20201103_045202650.png Blog - October Market Update The graph shows the total return for the iShares Emerging Markets ETF in blue and SPDR S&P500 ETF in blue from April 2020 - October 2020. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1604629429801-44RDV8D4DCHON2LFYTRO/SP_bankruptcies.png Blog - October Market Update https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1604630784558-HW8Q3ADVNW0QRA0MT3J2/UST_Oct2020.jpg Blog - October Market Update Source: DoubleLine https://www.twocenturies.com/blog/2020/10/26/50-books-for-total-portfolios monthly 0.5 2022-02-18 https://www.twocenturies.com/blog/2020/10/10/september-monthly-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1602381449963-KUQMI9IMMJVUTSZKG9KJ/CCCdefaults_Aug2020.jpg Blog - September Monthly Update An obligation rated 'CCC' is currently vulnerable to nonpayment and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation. CCC is three levels below investment grade (BB and B are above it). https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1602383336917-Q5Q5PDUSV2ALIMX5P1VE/UST_Aug2020.jpg Blog - September Monthly Update Source: DoubleLine https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1602384102726-OTG4FS4ZYK62WN8YYI0A/CPI.jpeg Blog - September Monthly Update https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1602533951232-IWPBCLLG5EGW5J6ES40C/Solar_vs_SP500.jpg Blog - September Monthly Update This graph shows the outperformance since June 2020 of the Invesco Solar ETF (TAN) relative to.the S&P Energy Index. https://www.twocenturies.com/blog/2020/10/5/inflation-narrative monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/9/8/august-monthly-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1599252139132-Q72SMLF6913RQL9PCKPX/koyfin_20200904_034149332.png Blog - August Monthly Update https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1599251975164-FWFX60AJ99ZYV3DKDKXV/koyfin_20200904_033820723.png Blog - August Monthly Update https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1599432621916-717ZALZA7Q2J7X1MITBR/IWDvsIWF.png Blog - August Monthly Update This chart shows the relative total return performance of the iShares Russell 1000 Value ETF (IWD) relative to the iShares Russell 1000 Growth ETF (IWF) over the last eleven years ending August 31, 2020. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1599434272077-7BGV5U5PRGX3E7UO5HQ5/Intangible.jpeg Blog - August Monthly Update Source: Morgan Stanley https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1599434485577-M9OIJG0LCT4B7FFKF10J/ValueDisruption.jpg Blog - August Monthly Update Source: Sparkline Capital. This chart illustrates traditional value investing underperformance disappears if its underweight (short) exposure to Sparkline’s proprietary “disruptive theme” is neutralized. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1599252837106-P7MMET2A97RWZJQBUJ4Q/SandP_defaults_Aug2020.png Blog - August Monthly Update The chart shows the historic trailing 12-month default rate for below investment grade issuers. The colored lines on the right axis indicate the possible default scenarios for the next 12-months as forecast by S&P Global Ratings Research. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1599254019662-I34LWPFXDDXL65EMU0OW/UST_August2020.png Blog - August Monthly Update Source: Doubleline https://www.twocenturies.com/blog/2020/8/11/monthly-update monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1596942279721-J0JV5J0R017IP6CH2ZLQ/koyfin_20200806_021546864.png Blog - July Monthly Update The graph shows the total return for the iShares Emerging Markets ETF in red and SPDR S&P500 ETF in blue from July 2010 - July 2020. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1596936559587-72J6JWHGWA42L4QRWJQ6/EM_relativeearnings.png Blog - July Monthly Update Source: Touchstone Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1596939292698-55SGJC2AJCC7C80F0NS4/Low+Yielding+Debt.jpg Blog - July Monthly Update https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1596940604126-POFK0VFCSEUSHML1NMTQ/LendingConditions.jpg Blog - July Monthly Update Source: Peter Cecchini, The Federal Reserve The chart shows bank lending standards, a higher number (more positive) translates to tighter lending standards https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1596941812508-2A04MT23R2935HC9E1FC/Gold_RealRate.png Blog - July Monthly Update Source: World Gold Council, St. Louis Federal Reserve Bank The chart compares monthly average gold prices to the ten-year real rate calculated monthly using FRED data https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1596942322557-02VC37NR8NI9354ZQ9HO/koyfin_20200805_075508585.png Blog - July Monthly Update The graph shows the total return for the Nasdaq ETF in red and SPDR S&P Bank ETF in blue year-to-date through July 2020. https://www.twocenturies.com/blog/2020/7/20/active-vs-passive-blend monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/7/13/sixty-forty-over-the-long-run monthly 0.5 2022-02-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1594636099213-QRLG7TQ2BQUSDBC5QZNG/Slide1.JPG Blog - Sixty-Forty Over the Long-Run Sources: Morningstar, Ibbotson, CFA Institute, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1594638014890-T0JXYV2I2K6XF3490SR6/Slide2.JPG Blog - Sixty-Forty Over the Long-Run https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1594641497664-OPJVQ3KDRYKVVVQK0XAZ/Presentation2.jpg Blog - Sixty-Forty Over the Long-Run https://www.twocenturies.com/blog/2020/6/29/paradigm-shifts monthly 0.5 2020-06-30 https://www.twocenturies.com/blog/2020/6/15/esg-fundamental-view-point monthly 0.5 2022-02-19 https://www.twocenturies.com/blog/2020/6/1/frozen-portfolios monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/5/26/value-and-momentum monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590495375176-7V8ZYBP8ZCA53VZW6AG4/Slide4.JPG Blog - Two Centuries of Value and Momentum Source: Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590495403321-IM2RZPP0UBJAX9FTZHI9/Slide1.JPG Blog - Two Centuries of Value and Momentum https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590495415039-UL3G1G5AIC4IA9YP1F3W/Slide2.JPG Blog - Two Centuries of Value and Momentum https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590495426653-ZR0KMOEVK8EYHANK3PJ6/Slide3.JPG Blog - Two Centuries of Value and Momentum https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590455340843-L2AW6F5QQX3U2VIOXCNM/Slide1.JPG Blog - Two Centuries of Value and Momentum https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590455360794-1R1PF2CJIFS8VAU3PSUP/Slide3.JPG Blog - Two Centuries of Value and Momentum https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590495513376-ZR6XLPU8W9ZI2R88N18B/Slide5.JPG Blog - Two Centuries of Value and Momentum https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590495454290-TODOLD79MQMTA97QCDBR/Slide6.JPG Blog - Two Centuries of Value and Momentum https://www.twocenturies.com/blog/2020/5/25/dollar-dollars-everywhere-will-the-usd-or-em-sink monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590362053236-XB258Q61R17ISAXABN2F/fredgraph+%282%29.png Blog - Dollars, Dollars, Everywhere...except Emerging Markets https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590362127988-Q2757HHL9Q85HG4RF3X3/fredgraph+%283%29.png Blog - Dollars, Dollars, Everywhere...except Emerging Markets https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590362297038-S8X5OG54JIB91IZVQS0S/koyfin_20200524_033433889.png Blog - Dollars, Dollars, Everywhere...except Emerging Markets https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1590362415047-PVXCX7I8OQJLNSDKGZH4/Image+5-24-20+at+5.29+PM.jpg Blog - Dollars, Dollars, Everywhere...except Emerging Markets https://www.twocenturies.com/blog/2020/5/18/thoughts-on-systematic-value-investing monthly 0.5 2022-02-19 https://www.twocenturies.com/blog/2020/5/11/supply-chain-pain-becoming-more-visible monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/5/11/value-investing-even-deeper-history monthly 0.5 2022-02-18 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1589205314385-YEN0PSMT30FUQJVSZ903/Presentation2.jpg Blog - Value Investing: Even Deeper History https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1589205334329-61KIIZIAK3MHLBBODFK2/Slide1.JPG Blog - Value Investing: Even Deeper History https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1589205347309-UWEP4DYRBJ47ML3Q0BV6/Slide2.JPG Blog - Value Investing: Even Deeper History https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1589073441628-MHAEIHTZJQAKMB8GLEKV/Slide3.JPG Blog - Value Investing: Even Deeper History https://www.twocenturies.com/blog/2020/5/4/unfolding-of-the-qe-endgame monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/5/4/value-crashes-deep-history monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1588468861897-YD0LJI0BE03BXVHWRDH3/Presentationvalue.jpg Blog - Value Crashes: Deep History Source: Professor French https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1588197642017-IRPF4736L4NA8PKZ29TR/Slide1.JPG Blog - Value Crashes: Deep History Graph shows log-cumulative long-short industry value portfolio return in excess of the risk free rate. The table shows total returns including the risk free rate. Sources: Cowles at Yale, Professor French at Dartmouth,Two Centuries Investments. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1588469355694-6EX7SV02KCMFHY5T8DHO/slide222.jpg Blog - Value Crashes: Deep History Graph shows drawdowns of the value portfolio return in excess of the risk free rate. Sources: Cowles at Yale and Professor French at Dartmouth, Two Centuries Investments. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1588385721208-KVT23QHWIOIBP918KYRR/Presentation2.jpg Blog - Value Crashes: Deep History Both the graph and the table show long-short returns in excess of the risk-free rate. Sources: Cowles at Yale and Professor French at Dartmouth, Two Centuries Investments. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1588594824282-76F2DETYIW9NHRSAX1FM/spreads.jpg Blog - Value Crashes: Deep History Graph shows 3-year average difference of z-scores for the top and bottom third portfolios’ cross-sectional valuation average. https://www.twocenturies.com/blog/2020/5/2/value-investing-books monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/4/27/what-we-do-not-see-with-qe monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1587997100896-E3XDQMXFR25KDQKI4870/fredgraph_BS.png Blog - What we do not see with QE https://www.twocenturies.com/blog/2020/4/20/one-factor-world monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1587394736456-2TKYZZR9ZSHZ5NFQ2UDD/image-asset.jpeg Blog - One Factor World https://www.twocenturies.com/blog/2020/3/30/immediate-results monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/3/23/what-we-have-been-reading-to-stay-calm monthly 0.5 2022-02-18 https://www.twocenturies.com/blog/2020/3/16/three-paradoxes monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/2/29/volatility-vs-risk-revised monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/2/7/investment-process-vs-innovation monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/1/27/he-is-the-architect-of-it-all-conversation-with-greg-zuckerman-part-iii monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2020/1/13/be-guided-by-beauty-conversation-with-greg-zuckerman-part-2 monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1578310458400-0HHE8TC40O8VM58KG640/Presentation1.jpg Blog - "Be Guided by Beauty" - conversation with Greg Zuckerman - Part 2 https://www.twocenturies.com/blog/2020/1/6/his-genius-is-managing-genius-conversation-with-greg-zuckerman-part-1 monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1578310458400-0HHE8TC40O8VM58KG640/Presentation1.jpg Blog - "His Genius is Managing Genius" - conversation with Greg Zuckerman - Part 1 https://www.twocenturies.com/blog/2019/12/30/our-most-popular-posts-of-2019 monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/12/23/big-stories-of-2019 monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/12/16/forecasting-nowcasting-and-attribution monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/12/9/to-esg-or-not-to-esg monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/12/2/quantamental-investing-insight-change-vs-patterns monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/11/25/things-i-learned-as-a-quant-at-the-responsible-business-conference-in-san-diego monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/11/18/convergent-vs-divergent-creativity monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/11/11/two-centuries-of-creativity-quantified monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1573432076004-PB8UEKFAC9IS460YXY1V/Slide1.JPG Blog - Two Centuries of Creativity Quantified https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1573432090062-UW92ED41FTOXJX8ZQNV6/Slide2.JPG Blog - Two Centuries of Creativity Quantified https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1573433559258-2N7YO3E14ADM0PIBFSC2/Presentation1.jpg Blog - Two Centuries of Creativity Quantified https://www.twocenturies.com/blog/2019/11/4/quant-fundamental-quantamental-investing monthly 0.5 2022-02-18 https://www.twocenturies.com/blog/2019/10/28/two-thoughts-about-buybacks monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/10/21/dynamic-asset-allocation-papers monthly 0.5 2022-02-19 https://www.twocenturies.com/blog/2019/10/14/self-help-books-for-quantitative-investors monthly 0.5 2022-02-19 https://www.twocenturies.com/blog/2019/10/7/9-things-that-get-me-fired-up-about-being-an-quant-today monthly 0.5 2022-02-19 https://www.twocenturies.com/blog/2019/9/30/are-you-ready-for-the-next-recession monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/9/23/inverted-yield-curve-out-of-sample-belgium-1840-2018 monthly 0.5 2022-02-19 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1569158743984-E16LHHF4EH9DVTPDEYBD/Image.png Blog - Inverted Yield Curve: Belgium 1840 - 2018 Over 178 years, we have 11 years of yield inversion, as shown in the graph. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1569200426858-YCJACWR6D6RMA12C2C9V/Presentation1.jpg Blog - Inverted Yield Curve: Belgium 1840 - 2018 1840 - 2018 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1569158815053-HVC0FPDMNAMXW991IEXT/2.jpg Blog - Inverted Yield Curve: Belgium 1840 - 2018 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1569158842039-NKMGY13LVFD71537T561/3.jpg Blog - Inverted Yield Curve: Belgium 1840 - 2018 https://www.twocenturies.com/blog/2019/9/16/risk-parity-part-ii-the-long-run monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1568593104540-K1MB26J7J5455K74GUSD/Slides2.jpg Blog - Risk Parity Part II: The Long-Run View Sources: Robert Shiller, Aswath Damodaran, Jeremy Siegel, AQR, Two Centuries Investments https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1568593121398-HNUGXBHG8OZTQ7DW6SDJ/Slides3.jpg Blog - Risk Parity Part II: The Long-Run View https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1568575137513-B9IOQ0ZHGFFHAMIZ4777/Slide1.JPG Blog - Risk Parity Part II: The Long-Run View Do you recognize Robert Shiller’s font in this table? I built these results starting out from his excel data file, and since his font is so unique and recognizable to most quants, I decided to keep it for aesthetic reasons. https://www.twocenturies.com/blog/2019/9/9/gambling-or-investing monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/9/2/rorys-rules-of-alchemy-best-quotes-for-quants monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/8/19/risk-parity-chasing-diversifiers monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1566218985069-7ONRHGS226FGJJZNAQIQ/Slide1.jpg Blog - Risk Parity Part I: Chasing Diversifiers * HFRI 12 Vol Institutional - https://www.hedgefundresearch.com/indices/hfr-risk-parity-vol-12-institutional-index https://www.twocenturies.com/blog/2019/4/25/value-and-momentum-in-a-cone-chart monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1565608177288-3QM9EN55W5F95RPSW674/Slide1.JPG Blog - Value and Momentum in a Cone Fama French Value factor as of 6/30/2019 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1565608187158-SNL9CMRYGICZQXSTPRHX/Slide2.JPG Blog - Value and Momentum in a Cone Fama French Momentum factor as of 6/30/2019 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1565608809884-BRPR7GMECDLQWKLTLJLH/Slide4.JPG Blog - Value and Momentum in a Cone Fama French Value factor as of 6/30/2019 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1565609007713-PVBA4LLDGGYFUF3ONUT4/Slide3.JPG Blog - Value and Momentum in a Cone Fama French Momentum factor as of 6/30/2019 https://www.twocenturies.com/blog/2019/7/15/simple-6040-return-is-really-hard-to-get monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/7/29/tips-for-creative-quants monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/7/22/the-two-faces-of-factor-investing monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1563675658120-XZTEKRNB7VKHEPILW4QE/image-asset.jpeg Blog - The Two Sides of Factor Investing Table from John Guerard’s paper https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1563673069120-HERC4NG25RE6EJ3XIYQS/MOM.PNG Blog - The Two Sides of Factor Investing From Barra’s Risk Model Manual. Dashed line is the univariate factor return. Solid line is the multivariate factor return, orthogonal to all other factors. https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1563673129680-70Y6IZO5U9UT04HZZL2N/EY.PNG Blog - The Two Sides of Factor Investing From Barra’s Risk Model Manual. Dashed line is the univariate factor return. Solid line is the multivariate factor return, orthogonal to all other factors. https://www.twocenturies.com/blog/2019/7/15/follow-up-to-last-weeks-post-comment-on-factors-dont-exist monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/7/8/thoughts-on-factor-investing monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/7/1/12-reasons-why-traditional-asset-allocation-does-not-work monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/6/18/you-cant-throw-darts-at-asset-classes monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/6/17/a-common-misconception-in-finance monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/6/10/strategy-risk-vs-asset-risk monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1560122716655-ZE1TJ9VSK9Z6MFUICXIW/image1.png Blog - Strategy Risk vs Asset Risk https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1560122759439-DZJLTB4ECQA3FU7SD46U/image2.png Blog - Strategy Risk vs Asset Risk https://www.twocenturies.com/blog/2019/6/1/a-century-of-inventions-in-quantamental-investing monthly 0.5 2022-02-18 https://www.twocenturies.com/blog/2019/5/9/volatility-vs-risk monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1558694481494-6CKV1XY7DDZU2XIE6NEY/2.gif Blog - Volatility vs Risk https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1558694864089-6B8KZ1VNNSWUI8IEJSXE/q2.png Blog - Volatility vs Risk https://www.twocenturies.com/blog/2019/5/20/factor-zoo-vs-factor-museum monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1563816469396-1ZZ2NMYORTKNY60YHAQZ/Zoo.gif Blog - What is better: Factor Zoo or Factor Museum? Life is better in a Zoo than a Museum, and even better in the Wild. https://www.twocenturies.com/blog/2019/4/24/a-list-of-comprehensive-multi-factor-academic-papers monthly 0.5 2022-02-18 https://www.twocenturies.com/blog/2019/5/6/what-if-asset-managers-switched-with-advisors monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/4/29/12-factor-investing-books-by-asset-managers monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/4/22/12-quant-practices-to-improve monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/4/15/months-before-aig-went-bankrupt monthly 0.5 2021-12-06 https://www.twocenturies.com/blog/2019/4/8/the-first-risk-and-opportunity-in-active-investing monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1554676257503-MYE0AEJYEEIEJFQ3WYEI/EandA.png Blog - The First Risk and Opportunity in Active Investing Source: Innovation Workshop by Two Centuries Investments https://www.twocenturies.com/blog/2019/3/27/inverted-yield-curve-danger-or-noise monthly 0.5 2021-12-06 https://images.squarespace-cdn.com/content/v1/5c454f2c4cde7a1a753c3e95/1553697339958-BCN6SLHG3RPVZ86F496S/2.PNG Blog - Inverted Yield Curve: Danger or Noise? 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