Charts & Chat - October 30, 2023
Eric Boyce • October 30, 2023
** Note: Be on the look out for some summary comments from my two investment conferences over the past two weeks in a special version of Market Minutes **
This week, CEO Eric Boyce, CFA discusses: 1. Better than expected GDP report and the internal data behind it - especially consumption 2. Regional Fed survey data showing sluggish signs; global backdrop more favorable right now 3. Purchasing Managers data (PMI) stronger 4. Rates are more restrictive than short term rates would suggest 5. Equity market likely near-term oversold; Gold acting stronger

By Eric Boyce
•
May 18, 2026
This week, CEO Eric Boyce, CFA discusses: 1. discussion of higher inflation risks and central bank policy for its impacts on higher interest rates 2. Gold sluggish due to higher interest rates; equity valuations moving higher during the current melt up 3. tariff collections off; global export volumes and prices higher 4. strong recent payroll data & steady unemployment; real wage growth negatively impacted by rising inflation 5. higher producer prices mirroring consumer price trends, more so on services. Energy and food impacting headline inflation 6. consumer sentiment at lows; small businesses more optimistic although uncertainly remains high 7. retail sales remain favorable; household financial condition and credit quality trending in right direction despite higher inflation trends more recently

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




