• Net inflows for US-listed ETFs totaled $187.8 billion in May, bringing total ETF assets under management to $15.4 trillion.
  
  
•  Equity ETFs had net inflows totaling $126.3 billion in May, bringing trailing 12-months (TTM) net inflows to $1.20 trillion. Active equity ETFs accounted for $39.7 billion in net inflows in May, compared to $86.6 billion in net inflows for passive equity ETFs. Total AUM in actively managed equity ETFs was $1.14 trillion, accounting for 9.3% of all equity ETF assets ($12.3 trillion), as of 5/31/26.
  
  
•  Fixed income ETFs had net inflows totaling $60.3 billion in May, bringing TTM net inflows to $539.8 billion. Active fixed income ETFs accounted for $20.1 billion in net inflows in May, compared to $40.1 billion in net inflows for passive fixed income ETFs. Total AUM in actively managed fixed income ETFs was $583.1 billion, accounting for 23.1% of all fixed income ETF assets ($2.5 trillion), as of 5/31/26.
  
  
•  Commodities ETFs had net inflows totaling $0.4 billion in May, bringing TTM net inflows to $42.1 billion. Precious metals ETFs (-$0.9 billion) had the largest net outflows for the month, offset by inflows into Broad Commodity ETFs ($0.9 billion) and Agricultural Commodity ETFs (+$0.4 billion).

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The USDA National Agriculture Statistics Service reported that the average value of U.S. cropland was $5,830 per acre in 2025, representing a 4.7% increase year-over-year and a 96% increase since 2011. Pastureland value averaged $1,920 per acre, posting the same 4.7% year-over-year gain but a more modest 79% rise since 2011. 

In its 2026 World Silver Survey, the Silver Institute reports that the global silver market ran a deficit of 40.3 million ounces in 2025. While smaller than the peak of 254.0 million ounces in 2022, it marks the fifth consecutive annual silver deficit. The narrowing deficit in 2025 is due to a 6.9% year-over-year increase in global supply and a 2.3% year-over-year decline in global demand. That said, the Silver Institute projects a sixth consecutive annual deficit in 2026, as structural demand pressures outpace supply.

Mandeep Singh, global head of Technology Research at Bloomberg Intelligence, joins the podcast to provide an update on the growing impact of artificial intelligence and other cutting-edge innovations.

The CDC’s National Center for Health Statistics reported that as of 2024, 25.2% of U.S. adults have a seasonal allergy, 7.7% have eczema, and 6.7% have a food allergy. Among U.S. children, 20.6% have a seasonal allergy, 12.7% have eczema, and 5.3% have a food allergy. Notably, children in rural areas were more likely to have a seasonal allergy than their urban counterparts, with rural children reporting a seasonal allergy rate of 25.6% compared to just 19.8% among those living in urban areas.

Moody's reported that its trailing 12-month global speculative-grade default rate stood at 4.5% at the end of April 2026 (preliminary results), up from 4.1% in December 2025. Its baseline scenario sees the global default rate declining to 2.9% in December 2026. For comparison, Moody's puts the global historical average default rate at 4.2%. The U.S. speculative-grade default rate stood at 5.1% in April. Moody’s baseline scenario sees the U.S. default rate falling to 3.3% in December 2026.

The Federal Deposit Insurance Corporation announced that the U.S. commercial banks and savings institutions it insures reported aggregate net income of $80.5 billion in Q1’26, an increase of 14.3% year-over-year. Net interest margin was 3.31% in Q1’26, down from 3.39% in the prior quarter. Net interest margin reported by community banks increased by 24 basis points year-over-year to 3.71% in Q1’26.

The Hot Hand, a book written by Ben Cohen in 2020, explores the Hot Hand in Basketball research paper written in 1985. The book discusses the existence of streaks and whether an athlete is actually in “the zone” when she seemingly can’t miss. We have all seen it and it seems obvious when a shooter is red hot. Get her the ball! Yet Cohen’s book and various studies describe streaks as simply the randomness of a large data set and not being in any zone at all. Say what you will about Cohen’s book and the evidence...to most of us, it is clear that the equity markets are in the zone!

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Total net assets invested in U.S. money market funds totaled $7.78 trillion on 5/27/26, an increase of 12.0% year-over-year from $6.95 trillion on 5/28/25, according to weekly data from Bloomberg and the Investment Company Institute. Total net assets invested in so-called “government” money market funds, which restrict their holdings to U.S. Treasuries and agency debt, increased by 13.2% to $6.41 trillion over the same period.

ATTOM Data Solutions reported that 68,999 U.S. single-family homes and condos were flipped in Q4’25, a decline of 7.4% year-over-year, according to its own release. Gross profit (the difference between the median purchase price paid by investors and the median resale price) on a typical flip declined from $74,076 in Q4’24 to $62,000 in Q4’25. Gross return on investment stood at 23.6% in Q4’25, its lowest level since Q3’07.