Charts & Chat - February 4, 2024
Eric Boyce • February 4, 2024
This week, CEO Eric Boyce discusses: 1. Short term interest rate estimates are changing every week...forecasts suggest rate decreases come later in 2024 2. Payroll strength, hourly earnings nose higher, productivity helping to keep unit labors cost growth low 3. manufacturing recession may be near an end... 4. construction spending in residential positive 5. near term PCE inflation trends near Fed target on annualized basis 6. home prices higher, mortgage rates moving lower 7. equity risk premium low - potential volatility ahead, yet equities best hedge for inflation 8. China data remains sluggish - government censoring bad data

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




