Charts & Chat - August 6, 2023

This week, CEO Eric Boyce, CFA discusses:

1. high frequency data positive, for the most part, although retail sales trails prior years

2. labor market still tight, but cracks are evident (hours worked, wage growth)

3. Retail stock investors exuberant, chasing returns

4. Better relative value in bond market - large stocks overvalued, but small caps have better value

5. gold may have short term correction with stronger equity market and lower perceived volatility

6. Economic data mixed (higher bankruptcies, manufacturing contraction, service sector still positive)