Charts & Chat - May 20, 2024
Eric Boyce • May 19, 2024
This week, CEO Eric Boyce, CFA discusses: 1. recent inflation data at the producer and consumer level - analysis and implications 2. money supply growth negative - positive for disinflation over time 3. labor softening, consumers low on excess savings, increased credit card delinquency; yet, real wages remain high, providing continued spending power 4. manufacturing turning a slow corner 5. stocks back to near overbought; bond yields off interim peaks 6. strong foreign interest in US stocks/bonds (except for China)

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



