This week, CEO Eric Boyce, CFA discusses:
Gold performance relative to bonds and size of government budget; increase of gold in use as reserve asset
Labor force participation and debt levels, and increased treasury issuance
yield curve dynamics and lack of breadth evident in equities; equity risk premium very low relative to bonds
diversification benefits from other asset classes, foreign markets
residential home price declines, office vacancy and the looming debt cliff for commercial real estate
job market in good shape but softening; consumer spending rising but so are delinquencies
small banks responding to balance sheet issues
disinflation tendencies in place - need patience