Market Commentary
Murray McLean, our Chief Investment Officer, reports that the second quarter of 2024 saw strong US equity returns of over 5% thanks to optimism toward technology generally and Artificial Intelligence in particular. In contrast, Canadian equities declined slightly by 0.5%. With inflation still “sticky” around 3%, some central banks have delayed expected interest rate cuts, affecting market expectations. Here in Canada however, the Bank of Canada reduced interest rates by 25 Bps – we are the first country in the G7 to begin cutting interest rates. Our portfolios remain defensively positioned, with a strategic shift from US to International equities in anticipation of more favorable conditions in Europe. Watch our informative video for a comprehensive overview and our perspectives.
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