Charts & Chat - February 15, 2026

Eric Boyce • February 16, 2026

This week, CEO Eric Boyce, CFA discusses:

1. retail sales off for the month, breaking a trend; consumer prices +2.5% year-over-year, but much higher in some important categories

2. wages stable, but higher charge card delinquencies keep our focus in check. Household debt to GDP still very low, however

3. profit margins for S&P 500 driven by large tech; earnings estimates still favorable overall, but AI benefit will likely be measured in years, not months

4. trends in economic surprises suggest higher long term bond yields...

5. with recent sell off, some changes in both institutional and retail investor sentiment, although trade volumes remain high

6. increased capital spending but public companies, offset by lower stock buyback and debt paydown

7. job market slowdown continues at slow pace; job growth negative outside of healthcare since beginning of 2004

8. Gold disconnect with interest rates, but increased demand from foreign central banks, including China, driving some of that




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