Ratio Charts

This chart is showing something surprisingly important. Gold is still a very small piece of global investable wealth. The gold line tracks gold’s private investment share of global equities and bonds over

This chart shows one of the most important shifts in modern markets, and it is hiding in plain sight. Back in the early 1990s, Materials and Energy made up a much larger

This chart is a quiet bombshell. What it shows is the share of S&P 500 corporate capex going into two very different parts of the economy: tech and related sectors in black,

This chart tracks one of the cleanest pulse checks in the whole macro machine: US corporate profits as a share of GDP. In plain English, it shows how much of the economy’s