Charts & Chat - March 3, 2024
Eric Boyce • March 3, 2024
This week, CEO Eric Boyce discusses: 1. PCE data in line, "super core" inflation ran hotter last month, trend is down but will take time. January data can be noisy 2. personal income moving higher, but interest as percent of expenditures also going up 3. Housing is improving, price growth once again is positive 4. Leading indicators still negative, but less so - shaping up for potential soft landing scenario 5. stock market confidence is high, prices relative to moving averages are stretched, potentially setting up modest market pullback 6. credit spreads are really tight for low rated bonds, meaning there is high confidence in credit quality...

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



