According to @KobeissiLetter, the S&P 500-to-Commodity Index ratio has reached an all-time high and has nearly tripled since the 2022 bear market, surpassing the prior peak during the 2020 pandemic (source: @KobeissiLetter, X, Aug 30, 2025). Over the same period, the Commodity Price Index fell about 31%, marking a pronounced relative performance gap between equities and commodities as highlighted in the post (source: @KobeissiLetter, X, Aug 30, 2025). The post explicitly asks whether commodities are set for a rally, framing the current level as a notable extreme for traders to watch (source: @KobeissiLetter, X, Aug 30, 2025).

According to Eric Balchunas, the fact that there are now more ETFs than individual stocks reflects demand inducing supply and is not a major market risk, even if the abundance of choice can challenge consumers, source: Eric Balchunas on X, Aug 25, 2025. He adds that he addressed these concerns in the Some Worry chapter of his book The Bogle Effect, framing ETF proliferation as a normal outcome of capitalism rather than a structural problem, source: Eric Balchunas on X, Aug 25, 2025. For traders, this implies that ongoing ETF launches should be assessed by product quality and investor demand rather than headline counts, consistent with his view that the number of ETFs alone is not a bearish signal, source: Eric Balchunas on X, Aug 25, 2025.