Charts & Chat - March 17, 2024
Eric Boyce • March 17, 2024
This week, CEO Eric Boyce discusses: 1. inflation remains sticky, especially rents and services, but there is expectations for further reduction 2. analysis of recent trends in CPI, PCE and PPI - patience required in getting to the 2% Fed target 3. retail sales below expectations, implications for a tight labor market 4. small business earnings, hiring intentions remain suppressed 5. household financial strength anchored by housing, equities 6. private debt markets set to explode 7. equity fund flows, buyback increases, higher liquidity, and high valuations set the stage for continued growth but a potential pullback near term

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




