Charts & Chat - October 20, 2024
Eric Boyce • October 21, 2024
This week, CEO Eric Boyce, CFA discusses:
1. GDP estimates for 3Q in the increase; liquidity higher, and economic data on balance has been more positive.
2. liquidity improving in US and abroad - tends to favor profits increases and risk asset investment over time
3. retail sales stronger than expected, labor market softening as expected
4. gold strong, other energy commodities are off somewhat
5. chapter 11 filings up, expectations for delinquencies on the rise
6. regional economic surveys (Philly Fed, Empire State) paint mixed picture on manufacturing
7. investor optimism much higher on stocks versus bonds; improving stock price and earnings breadth across sectors expected

By Eric Boyce
•
October 12, 2026
This week, CEO Eric Boyce, CFA discusses: 1. More confirming data points on economic expansion; pricing power 2. stable employment trends, with declining continuing claims and 3. Atlanta Fed GDP Now estimates 3.6% annualized growth in 3rd quarter 4. Long term inflation expectations are anchored; demand driven 5. higher interest rates taking toll on interest rate sensitive sectors (home/auto) 6. Rents trending higher, shift from buyers to renters amidst declining supply and homeowner cost push 7. AI theme intact; potential volatility if expectations falter; rapid rise in semis and tech imports 8. in 4th year of bull market in stocks - 5th year average return 12%; valuations still high yet off peaks; breadth declining; small caps underperforming. 9. bond sell-off may be near conclusion; helping to drive dollar higher; yield change reflects increase in real yields, partially driven by demand for credit






