Existing Home Sales Modestly Boosted in April

Published on May 11, 2026

Existing home sales were modestly boosted in April, inching up 0.2% following a 2.9% decline in March. According to the National Association of Realtors (NAR), sales reached a seasonally adjusted annual rate of 4.02 million units, falling just short of the projected 4.05 million.

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Gold Bugs Faulty Thesis: M2 & Inflation

May 11, 2026
Gold bugs often claim that when more dollars are in circulation, each dollar buys less; prices rise, and gold, as a store of value, helps protect purchasing power from that decline. As a result, they believe that a rising money supply, in and of itself, is inherently inflationary.

Mega-IPOs & Index Fund Mechanics: Much Ado About Nothing?

May 11, 2026
Rather than worrying about the narrow impact of faster IPO inclusion on index fund performance, we think investors would be better served by focusing on the long-term expected returns offered by the markets in which they’re investing – in particular the U.S. and non-U.S. equity markets.