Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From overrated ETFs to on-sale skin lotions, here are four charts that tell you what you need to know in business today.

What's Not to Like?
Blue Apron's breakneck growth is not enough to convince investors that it deserves to go public at a premium valuation.
Source: Blue Apron
Bull Run
ETFs are buying larger and larger amounts of stocks; but they've got nothing on good old corporate buybacks.
Source: Federal Reserve, Goldman Sachs
Plumbing the Depths
Time for vacation? Treasury markets are reaching near-historic levels of boredom.
Source: Bank of America Merrill Lynch, Bloomberg
Nestle's Scope To Sell
Nestle's L'Oreal stake is a valuable chip, and there's no particular reason it should wait to cash it in.
Source: Bloomberg, Jefferies, Kepler Cheuvreux

And don't miss Lionel Laurent on the diminishing power of hacking headlines to boost cyber-security-stocks: "Firms splurging on technology may be lulled into a false sense of security because -- through other errors -- they can still end up getting hacked. Imagine being a CEO content with the current set-up and spending, secure in the belief that outside providers or internal directors have everything under control, only to stumble at the last hurdle."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Max Nisen in New York at mnisen@bloomberg.net

To contact the editor responsible for this story:
Mark Gongloff at mgongloff1@bloomberg.net