Charts & Chat - December 7, 2025

This week, CEO Eric Boyce, CFA discusses:

1. So-called "hard" economic data looking much better than "soft" data, fueling increased confidence, optimism, earnings estimate increases and market outlook for 2026

2. earnings and economic growth expected across global markets, as output remains mostly steady and public market valuations not too far from historical averages

3. US service sector remains in growth territory; production slightly positive, although capacity utilization remains depressed

4. apartment rents down, helping to hold inflation lower; multi-family vacancies rising. Single family transaction cancellations are on the rise.

5. labor market softness illustrated, highlighted by small business contraction

6. investor sentiment higher, leading to more of a "risk-on" environment

7. credit defaults looking better, leading to recompression of credit spreads in the market

8. treasury issuance spiking, which is helping to hold interest rates higher then they would otherwise likely be