This week, CEO Eric Boyce discusses:
1. Relatively strong economic growth, as reported in the initial release of the 3Q GDP report. Sources of strength, including robust consumption
2. PCE prices come in as expected; employment costs coming down, although real wages are keeping up
3. Discussion of yield curve changes based on 0.25% rate cut expectation
4. Gold at record highs - sources of demand and money flows; commodities doing well across the board (chart on cattle prices)
5. market breadth improving; cash levels dropping
6. bond spreads do not reflect much if any concern in the economy right now
7. investments tend to do well regardless of who is in the White House; however, sector returns can vary greatly and may be influenced by policy changes
8. 4th quarter estimates becoming more conservative (healthy); operating margins expected to increase due to productivity improvements
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