Charts & Chat - December 4, 2023
Eric Boyce • December 4, 2023
This week, CEO Eric Boyce, CFA discusses: 1. comments on the upside GDP revision 2. Fed's Beige Book activity weakens again this month 3. consumption lower; confidence index off the trough, however. 4. savings going down, some delinquencies on the rise 5. freight markets looking healthier 6. stock markets looking better; momentum trades are on 7. bond yields off 8. emerging markets remain cheap

By Eric Boyce
•
April 13, 2026
This week, CEO Eric Boyce, CFA discusses: 1. final 4Q GDP revision reflects weaker year-end environment. First quarter estimates are trending down, reflecting pressure from geopolitics 2. personal income trending lower, although credit outstanding remains flat 3. PCE prices are elevated, primarily from goods prices - housing continuing to drop 4. energy market impacts from Iran conflict - disproportionate impact on lower income, Asia energy markets 5. forward looking equity returns look to be more limited, following three years of above average returns - private investments will likely play a greater role going forward 6. still a considerable gap on individuals with retirement plans, even at the higher income levels 7. earnings estimates moving higher, especially for tech firms; accordingly, tech P/E multiples back down to overall index average



