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The relative performance of energy stocks versus the S&P 500 is now at its lowest level since the early 1900s.

00:01 - 18/09/23

Small Cap stocks are underperforming the S&P 500 by the largest margin in 22 years

US Mortgage Applications have just hit a 30 year low

Always watch California. Unemployment there was 3.8% but has popped to 4.6%. The US unemployment rate hasn't popped with it. Not yet. Up we go.

Japan is a compelling case study of an economy that has suffered from a prolonged period of monetary and fiscal indiscipline.