Tim Holland, CFA, Senior Vice President, Global Investment Strategist
On this week’s podcast (recorded April 21, 2017), Tim addresses an ongoing stock market and economic debate that has been widely reported on by the media – “What’s right: the hard or soft data?”.
- One of the more contentious market topics of late has been the divergence between hard and soft economic data – and which data set is correct about near term and future economic performance.
- Hard data refers to quantifiable economic data points such as GDP and retail sales. Soft data refer to surveys of how consumers and businesses feel about current and future economic prospects. The former has been a bit disappointing of late while the latter has been coming in at multi-year highs.
- We believe that ultimately the hard data will close the gap with the soft data, reflecting a strengthening economy. We would also point out that several hard data points reflect a robust US economy, including the unemployment rate.
- We remain constructive on risk assets and see little in the way of typical excesses that would suggest a bear market or recession are imminent.
For Tim’s full insights, click here to listen to the audio recording.
The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.