Charts & Chat - October 6, 2024

Eric Boyce • October 6, 2024

This week, CEO Eric Boyce, CFA discusses

1. more positive economic surprises; Fed more likely to drop rates 0.25% versus 0.50% next meeting

2. labor markets showing resilience in most recent data; employment costs not going down any more; data on where job growth is coming from and which areas are contributing to unemployment

3. Atlanta Fed GDP Now estimate is for 2.5% GDP growth in 3Q (annualized)

4. ISM manufacturing remains weak; service sector strength

5. dollar remains strong; more central banks cutting rates

6. private construction remains somewhat strong in certain areas (data centers versus office); valuations increasing

7. strong global liquidity helping to justify equity market valuations; profits increasing, setting up decent equity outlook in 2025

8. credit spreads remain well in check; private lending very strong, highlighting access to capital by small/mid-sized firms



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