Charts & Chat - March 2, 2025

Eric Boyce • March 3, 2025

This week, CEO Eric Boyce, CFA discusses:

1. expectations for growth and inflation both increasing for 2025

2. earnings transcripts show increase mention of inflation, tariffs - but also productivity gains from AI

3. labor market really appears stable at this point - firms are downplaying both hiring and layoffs (except in DC)

4. consumer sentiment remains ok, but may change.  50% of consumer spending comes from top 10% earners who have $1.3T in excess savings

5. peak impact of tariffs and DOGE likely 4Q - -0.5% to growth and +0.2% to inflation

6. regional Fed surveys reflect somewhat muted conditions with new exports expected to decline and uncertainty on the rise

7. S&P 500 and 10 year treasury yield positively correlated for the first time in a few months; 3m-10y yield curve back to inverted

8. growth v. value; international equity has weaker growth vs US, but much better valuations

9. bearish sentiment spikes at the individual investor level

10. graph on expected military spending by Europe next few years in the wake of the failed Trump/Zelenskyy meeting this past week




Blue logo for B&A Boyce & Associates Wealth Consulting with “Charts & Chat” text on a gradient background
By Eric Boyce May 11, 2026
Watch Charts & Chat from May 10, 2026 with Boyce & Associates. Review market trends, charts, and insights for informed financial decisions.
Blue logo for Boyce & Associates Wealth Consulting with “Charts & Chat” on a blue background
By Eric Boyce May 4, 2026
Watch Charts & Chat from May 3, 2026 by Boyce & Associates. Review market trends, charts, and insights to support financial decisions.
B&A logo and text: “Letters from Eric,” May 2026, “May 2026 Market Outlook: Quality & Diversification”
By Eric Boyce May 1, 2026
Boyce Wealth's May 2026 market outlook explores volatility, geopolitical tensions, slower growth, and why quality and diversification still matter.
Business team in a meeting over documents with banner: “Own a business? Have it valued every year!”
By Thomas E. Kemler April 27, 2026
An annual business valuation provides owners with a clear view of company performance, supporting risk management, succession planning, and strategy.
Blue title slide with B&A Boyce & Associates Wealth Consulting logo and “Charts & Chat” text
By Eric Boyce April 27, 2026
Review Boyce & Associates Market Minutes from November 14, 2023. Stay informed on key market trends and connect to discuss your strategy today.
Logo for Boyce & Associates Wealth Consulting titled
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
The Boyce & Associates Wealth Consulting logo and
By Eric Boyce April 6, 2026
Review Charts & Chat insights from April 5, 2026, and stay informed on market trends. Connect with Boyce & Associates Wealth to discuss your strategy today
Title card for Boyce & Associates Wealth Consulting:
By Eric Boyce April 1, 2026
Review April 2026 market update on inflation, interest rates, and geopolitical risk. Gain perspective and connect with Boyce & Associates today.
Two people sit at a table with a laptop. Text reads:
By Ian Kloc April 1, 2026
Learn long-term tax planning strategies, from Roth conversions to deductions. Connect with Boyce & Associates to review your financial strategy.
Logo for Boyce & Associates Wealth Consulting titled
By Eric Boyce March 30, 2026
Watch the March 29 Charts & Chat video for market insights and trends. Connect with Boyce & Associates to discuss your financial strategy today.
Show More