Charts & Chat - September 25, 2023
Eric Boyce • September 25, 2023
This week, Eric Boyce, CFA discusses: 1. the timing of the lagged effect of monetary tightening 2. Interest rates are rising again, but the yield curve is steepening 3. Lots of compelling reasons to expect an economic soft landing; however, risks remain and some data like the Leading Economic Indicators still would support recession 4. Trend data and correlations do forecast economic slowdown 5. earnings and economic forecasts can be volatile, but recent trends have been positive

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




