Macro Dashboard
The economy every stock trades in: what the market is worth against it, what money costs, whether prices and jobs are holding, and how fast it grows. Each figure is the Federal Reserve's or a government statistical agency's own, by way of the St. Louis Fed's FRED, and updated each night.
Stock market value to GDP
Market value to GDP, Q2 2026
What US nonfinancial companies' shares are worth, from the Federal Reserve's financial accounts, against a year of the economy's output. Warren Buffett called it probably the best single measure of where valuations stand. Quarterly, published about ten weeks after the quarter ends, and only as high or low as the history it is compared with. Source: NCBEILQ027S, GDP.
Treasury yields
10-year, Oct 8, 2026
- 10-year
- 2-year
- 3-month
What the US government pays to borrow for ten years, two years and three months. Mortgage rates follow the ten-year, and so does the rate a stock's future earnings are discounted at. Source: DGS10, DGS2, DGS3MO.
Yield curve
10-year less 2-year, Oct 9, 2026
- 10-year less 2-year
- 10-year less 3-month
The ten-year yield less the two-year and less the three-month. Below zero the curve is inverted — short-term lending pays more than long — which has come before every US recession since the 1970s, often by a year or more, and once or twice without one. Source: T10Y2Y, T10Y3M.
Federal funds rate
Effective rate, Oct 8, 2026
The rate banks lend each other overnight, which the Federal Reserve steers to set the price of money. Source: DFF.
Inflation
All items, August 2026
- All items
- Less food and energy
Consumer prices against the same month a year before, all items and without food and energy, which swing the most. Worked out here from the Bureau of Labor Statistics' index before seasonal adjustment, which is how it works out the figure it announces. Source: CPIAUCNS, CPILFENS.
Unemployment rate
Unemployment rate, September 2026
The share of the labour force looking for work and not finding it, from the monthly household survey. Source: UNRATE.
Economic growth
Real GDP growth, Q2 2026
Real GDP, the economy's output after inflation, against the quarter before, at an annual rate. The first estimate comes a month after the quarter ends, and is revised for years after. Source: A191RL1Q225SBEA.
Money supply
M2, year on year, August 2026
M2 — cash, current and savings accounts and money-market funds — against a year before. It shrank in 2023 for the first time since the 1930s. Source: M2SL.