From the Codex
If you are using a custom homepage with custom loops and stuff or a custom front-page, you will have an empty wp_title. Here goes a neat hack to add the description/tagline at the wp_title place on homepage:
add_filter( 'wp_title', 'baw_hack_wp_title_for_home' );
function baw_hack_wp_title_for_home( $title )
{
if( empty( $title ) && ( is_home() || is_front_page() ) ) {
return __( 'Home', 'theme_domain' ) . ' | ' . get_bloginfo( 'description' );
}
return $title;
}