This week, CEO Eric Boyce, CFA discusses: 1. volatility increases within the market, market sector shifts, market concentration dynamics 2. with higher volatility from trade, etc. policy, markets can actually exhibit better risk-adjusted returns; consumer inflation from tariffs may promote higher profit margins 3. power of long term compounding - EVEN IF price/earnings multiples contract from here 4. international valuations improving relative to S&P500 5. stabilization perhaps in office RE market 6. individual investors very apprehensive about market, think business conditions, employment & income trends worsening. 7. small business outlooks more guarded, higher prices paid showing up in the data 8. housing supply improving, but prices are rising faster than inflation
This week, CEO Eric Boyce, CFA discusses: 1. data has been mixed as of late, reflecting some anxiety, uncertainty and conservatism on the part of both business and consumers 2. economic growth softening, although recession calls remain mild. Eyes wide open, however... 3. other data, including the ISM Services PMI, remain solidly in expansion territory 4. Fed may bein a tough spot on near term rate cuts, given the sustainability of announced tariffs. Desire to cut in anticipation of slower growth may be pre-empted by near term effect of tariffs, to the extent they are sustained... 5. generational look at income, economic power, retirement assets 6. equity market trends, including recent test of 200 day moving average and moderation in earnings estimates 7. volatility up, international return expectations higher than US large growth
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
February 23 2025 Charts & Chats with CEO Eric Boyce, CFA. Trade-war risks, inflation concerns, strong retail sales, and shifting capital spending—plus insights on tariffs, government shutdown predictions, and private equity trends. Stay informed!
Tariffs, trade policy, and market trends—what’s ahead? CEO Eric Boyce breaks down economic uncertainty, manufacturing strength, corporate confidence, earnings updates, and consumer stability in this week’s insights.
Markets, tariffs, and rate cuts—what’s next? CEO Eric Boyce, CFA, breaks down the biggest economic shifts, from policy uncertainty and trade impacts to consumer optimism, GDP trends, and investment flows. Catch this week’s key insights in the latest Charts & Chat.
Charts & Chat - January 20, 2025. Explore key market trends with CEO Eric Boyce, CFA, as he covers 2025 growth risks, tariff impacts, rising retail sales, stock buybacks, and a strong US dollar.
Explore CEO Eric Boyce’s latest insights on the labor market, inflation trends, China’s slowdown, and the evolving dynamics between stocks and bonds. Understand how market optimism, term premiums, and liquidity shifts may shape your investment strategies.
This week, CEO Eric Boyce, CFA discusses: 1. higher rates have not led to economic downturn, and economy maintains steady pace heading into 2025 2. households are in healthy shape, based on consumer credit, spending, real income 3. construction spending increased despite higher rates due to stimulus, data centers and $50B in spending by the Mag 7 4. with labor markets steady, inflation continues to meander lower, helped by productivity 5. short term interest rates still expected to come down; however, skepticism over number of rate cuts to expect in 2025 6. corporate profits high, net interest expense low heading into 2025 7. merger and acquisition activity and initial public offerings expected to rise in 2025 8. global growth expected ~3% in 2025 9. key considerations in the new year...tariffs (of course) and deficits 10. 151 years of stock returns - how it all stacks up
This week, CEO Eric Boyce, CFA discusses: 1. volatility increases within the market, market sector shifts, market concentration dynamics 2. with higher volatility from trade, etc. policy, markets can actually exhibit better risk-adjusted returns; consumer inflation from tariffs may promote higher profit margins 3. power of long term compounding - EVEN IF price/earnings multiples contract from here 4. international valuations improving relative to S&P500 5. stabilization perhaps in office RE market 6. individual investors very apprehensive about market, think business conditions, employment & income trends worsening. 7. small business outlooks more guarded, higher prices paid showing up in the data 8. housing supply improving, but prices are rising faster than inflation
This week, CEO Eric Boyce, CFA discusses: 1. data has been mixed as of late, reflecting some anxiety, uncertainty and conservatism on the part of both business and consumers 2. economic growth softening, although recession calls remain mild. Eyes wide open, however... 3. other data, including the ISM Services PMI, remain solidly in expansion territory 4. Fed may bein a tough spot on near term rate cuts, given the sustainability of announced tariffs. Desire to cut in anticipation of slower growth may be pre-empted by near term effect of tariffs, to the extent they are sustained... 5. generational look at income, economic power, retirement assets 6. equity market trends, including recent test of 200 day moving average and moderation in earnings estimates 7. volatility up, international return expectations higher than US large growth
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
February 23 2025 Charts & Chats with CEO Eric Boyce, CFA. Trade-war risks, inflation concerns, strong retail sales, and shifting capital spending—plus insights on tariffs, government shutdown predictions, and private equity trends. Stay informed!
Tariffs, trade policy, and market trends—what’s ahead? CEO Eric Boyce breaks down economic uncertainty, manufacturing strength, corporate confidence, earnings updates, and consumer stability in this week’s insights.
Markets, tariffs, and rate cuts—what’s next? CEO Eric Boyce, CFA, breaks down the biggest economic shifts, from policy uncertainty and trade impacts to consumer optimism, GDP trends, and investment flows. Catch this week’s key insights in the latest Charts & Chat.
Charts & Chat - January 20, 2025. Explore key market trends with CEO Eric Boyce, CFA, as he covers 2025 growth risks, tariff impacts, rising retail sales, stock buybacks, and a strong US dollar.
Explore CEO Eric Boyce’s latest insights on the labor market, inflation trends, China’s slowdown, and the evolving dynamics between stocks and bonds. Understand how market optimism, term premiums, and liquidity shifts may shape your investment strategies.
This week, CEO Eric Boyce, CFA discusses: 1. higher rates have not led to economic downturn, and economy maintains steady pace heading into 2025 2. households are in healthy shape, based on consumer credit, spending, real income 3. construction spending increased despite higher rates due to stimulus, data centers and $50B in spending by the Mag 7 4. with labor markets steady, inflation continues to meander lower, helped by productivity 5. short term interest rates still expected to come down; however, skepticism over number of rate cuts to expect in 2025 6. corporate profits high, net interest expense low heading into 2025 7. merger and acquisition activity and initial public offerings expected to rise in 2025 8. global growth expected ~3% in 2025 9. key considerations in the new year...tariffs (of course) and deficits 10. 151 years of stock returns - how it all stacks up
Charts & Chat: Eric Boyce, CFA, covers positive inflation trends, Fed rate cut probabilities, strong growth expectations, small business optimism, and the tariff wildcard.