Bill Miller, Chief Investment Officer
On this week’s podcast (recorded April 1, 2016), Bill reports again on the importance of leading indicators and what they are showing in terms of the stability of the economy and if a recession is likely:
What we like: Investors should focus on leading indicators; good economic data to report: order rates for manufacturing strong; employment data continues to be positive; wages are increasing; recession happening this year becomes less likely with strong data from these leading indicators
What we don’t like: On the contrary, the strong data makes a larger case for higher interest rates; with wage and labor reports positive, Fed may act on their mandate and the interest rate discussion heats up
What we’re doing about it: Portfolios will maintain the theme of interest rate normalization
Click here to listen to the audio recording
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