On Reserve

On Reserve

  The stock market loves liquidity. By liquidity, we’re referring to the amount of easily accessible cash sloshing around the financial system. In our modern world of banking, one of the best ways to measure liquidity is by looking at the amount of bank reserves...
Getting Productive

Getting Productive

  Productivity makes everything better. That’s because, in simplest terms, it means getting more bang for your buck—doing more, with less, if you will. Regarding the economy, I like to think of productivity as a chef sharpening a knife. Just as a sharp knife...
Cozier Credit

Cozier Credit

  Good news on the financial front: credit conditions are on the upswing! According to the NDR Credit Conditions Index, our spotlight indicator this week, things are looking brighter for businesses and individuals looking to get loans or credit. What are credit...
On the Rise

On the Rise

  The stock market is rising, and valuations are, too. But what exactly do we mean by valuations? Well, it’s all about a metric called the price-to-earnings ratio (P/E ratio). This ratio measures the price of a stock market index, like the S&P 500...
Presidential Gloom

Presidential Gloom

  It’s an election year, and naturally, investors are wondering how it might impact their investments. Perhaps surprisingly, we find that the president’s influence on markets isn’t as significant as many believe. However, our data does suggest...
Buy Now, Pay Later

Buy Now, Pay Later

  The focus of this week’s indicator is margin debt. What is margin debt? In simple terms, it’s money that an investor borrows to purchase stocks. Think of it like a credit card for the stock market. It allows investors to amplify their returns, but there’s...