Our team looks at a lot of research throughout the day. Here are a handful of charts we think are good summations of investor activity, from asset convergence and divergence to equity supply and demand, to rates and the state of oil and inflation. Have a great weekend!
Beckham: Diversification is a great concept, but there are no set rules on the interplay among assets
John: Energy, for example, has had an unprecedented split from the rest of the market
Mark: and momentum has separated from other factors like never before
Data as of 07.10.2026
Brad: The SpaceX IPO triggered stories about increasing equity supply, but that gets dwarfed by buybacks
Data as of 07.12.2026
Brett: and stocks as a whole have become cheaper as earnings have exploded higher
Data as of 07.10.2026
Brian: Selloffs/recoveries like the one driven by Iran fears have repeatedly built a wall of worry for the bull market to stay intact
John Luke: The fall in inflation in June was quite broad
Data as of 07.15.2026
Brad: and resulted in month-over-month prices failing to rise for the first time since early COVID
Source: @DanGreenhaus as of 07.15.2026
John Luke: So, will the Warsh Fed really hike just as inflation measures appear to be relaxing?
Source: Duality Research as of 07.15.2026
Brian: Higher financing rates wouldn’t seem to make the wish list of the US Treasury
Data as of June 2026
Beckham: especially as defense spending is projected to rise both in the US and globally
Source: Blackstone as of June 2026
Brett: Foreign stocks have had quite a run after a long period of relative weakness
John Luke: but the attractiveness of US businesses keeps foreign dollars heading our way
Source: Apollo as of 07.13.2026
Joseph: Oil remains a wildcard, especially for non-US countries dependent on imports
Data as of 07.14.2026
Joseph: and even the US has drawn down its reserves during emergencies this decade
Data as of 07.14.2026
John Luke: US companies are clearly highly committed to artificial intelligence
Data as of June 2026
Dave: and despite software stocks being under pressure, there is still a need for qualified developers
JD: Worth repeating that bonds are sometimes diversifiers but rarely hedges
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