Present Value

Markets

Stocks

Equity Indices

S&P 500 (SPY as Proxy)

Large-cap US equities

767.31+14.30%
Source: Twelve Data

NASDAQ-100 (QQQ as Proxy)

Top 100 non-financial NASDAQ stocks

719.12+17.59%
Source: Twelve Data

Dow Jones Industrial Avg. (DIA as Proxy)

30-stock blue-chip index

518.75+11.08%
Source: Twelve Data

Russell 2000 (IWM as Proxy)

Small-cap US equities

271.73+9.50%
Source: Twelve Data

Fixed Income

Rates & Yields

10-Yr Treasury Yield

Benchmark intermediate yield

5.10%+25.93%
Source: FRED DGS10

2-Yr Treasury Yield

Short-end yield

4.77%+36.29%
Source: FRED DGS2

30-Yr Treasury Yield

Long-end yield

5.43%+17.03%
Source: FRED DGS30

Fed Funds Rate

Daily effective rate

3.88%-5.37%
Source: FRED DFF

Macro

Inflation & Growth

CPI Inflation (YoY)

Headline consumer prices

3.72%-30.53%
Source: FRED CPIAUCSL

Core PCE Inflation (YoY)

Fed's preferred inflation gauge

3.01%-22.74%
Source: FRED PCEPILFE

Real GDP Growth

Quarterly, annualized rate

2.20%-69.01%
Source: FRED A191RL1Q225SBEA

Real GDP Level

Billions, chained 2017 dollars

24,408+28.04%
Source: FRED GDPC1

Fiscal

Government Finance

US Federal Debt

Total public debt, trillions

$39.46T+103.61%
Source: FRED GFDEBTN · values scaled to trillions

US Federal Deficit

Annual surplus/deficit, trillions

-$1.77T-301.55%
Source: FRED FYFSD · values scaled to trillions

Employment

Labor Market

Unemployment Rate

U-3, household survey

4.20%-10.64%
Source: FRED UNRATE

Labor-Force Participation

Civilian 16+, household survey

61.80%+0.16%
Source: FRED CIVPART

Distribution

Inequality

Long-run income and wealth concentration from the World Inequality Database.

Gini Coefficient

Pre-tax national income, adults

0.59+14.09%
Source: WID.world

Bottom 50% Income Share

Pre-tax national income

13.44%-3.07 pp
Source: WID.world

Top 1% Income Share

Pre-tax national income

20.73%+5.20 pp
Source: WID.world

Top 0.1% Income Share

Pre-tax national income

9.93%+4.24 pp
Source: WID.world

Top 1% Wealth Share

Personal wealth

34.78%+0.66 pp
Source: WID.world

Top 0.1% Wealth Share

Personal wealth

18.38%+5.80 pp
Source: WID.world