This chart shows how much uncertainty driven by Trump affects all major asset classes — including stocks, bonds, currencies and oil
Stock market volatility is still leading the way, but what's more concerning is that volatility is rising across the board. All the major volatility indices are climbing at the same time, which reflects the growing global uncertainty caused by US trade policy coming out of DC. (via SRP) Source: HolgerZ
Tech smash
Source: Sven Henrich @NorthmanTrader
🔴 It took 45 years to get there, but inflation-adjusted Gold prices are back at an all-time high, surpassing the prior peak from 1980 🚀 $GOLD
Source: Charlie Bilello
Gold hit another all-time high yesterday and is now up over 27% in 2025.
On pace for its best year since 1979. Source: Charlie Bilello
Gold +23% in 2025, leading it all (ex the VIX)
Rusty, cocoa, OJ bring up the rear Source: Mike Zaccardi, CFA, CMT, MBA
In case you missed it:
30 year Japanese government bond yields have climbed even more sharply than their US counterparts. Since April 2, Japan’s 30y yield has risen 33bps, while the US 30y yield is up 29bps over the same period. Source: (HT @bilalhafeez123), HolgerZ, Bloomberg
Isn't it the most compelling chart for being a stock market investor?
Over the last 50 years: -US Inflation: up 6x -S&P 500 dividends: up 21x -S&P 500 total return: up 323x Over the long run, stocks trounce inflation and protect your purchasing power. Source: Peter Mallouk
This is a fascinating chart for anyone looking at the gold-to-silver ratio in a historical context - courtesy of Otavio (Tavi) Costa.
Over the past 125 years, the ratio has only spent brief moments above the 100 level — extremes like this tend not to persist for long... Source: Tavi Costa, Crescat Capital
