Charts & Chat - June 25, 2023
Eric Boyce • June 25, 2023
This week, CEO Eric Boyce, CFA discusses:
1. compelling data suggesting slowdown, despite improvement in optimism
2. Homebuilder optimism higher, even if sales, prices and inventory is down
3. commodity baskets moving in different directions
4. stocks stretched looking at bonds, valuations and concentrations
5. China CPI almost at deflationary levels - negative implications for global growth

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




