Charts & Chat - June 9, 2024
Eric Boyce • June 9, 2024
This week, CEO Eric Boyce, CFA discusses:
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Gold performance relative to bonds and size of government budget; increase of gold in use as reserve asset
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Labor force participation and debt levels, and increased treasury issuance
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yield curve dynamics and lack of breadth evident in equities; equity risk premium very low relative to bonds
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diversification benefits from other asset classes, foreign markets
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residential home price declines, office vacancy and the looming debt cliff for commercial real estate
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job market in good shape but softening; consumer spending rising but so are delinquencies
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small banks responding to balance sheet issues
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disinflation tendencies in place - need patience

By Eric Boyce
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October 19, 2026
This week, CEO Eric Boyce, CFA discusses: 1. current estimates for AI/tech capital spending, and what are the risks 2. the K-shaped economy visualized, the residential real estate market in the doldrums 3. inflation edging higher, complicated Fed decisions; flat CEO confidents and rising producer prices 4. contribution to equity market reruns, multiple compression, concentration risk, and risk of rising correlations to bond returns given higher interest rates 5. don't be scared of market highs, though, and 5th year bull market expansion returns are generally pretty good. 6. decomposition of yield changes, bond market selloff





