| September 2019 We hope that everyone had an enjoyable summer! We have been adjusting to the ever increasing market volatility - which is now the new normal - and continue to be more defensive in our positioning. A recent article from RBC Global Asset Management highlights that consumer confidence is dwindling, trade wars are having negative effect on the world economy, and one of the recessionary indicators has been signaled with the yield curve inverting. Here is a snippet from the article ‘Can we talk ourselves into a recession?’ ‘It may remain the case that the only thing we have to fear is fear itself, but there are also some other things to fear. While the strength of U.S. consumers should provide some comfort, consumer confidence can be a fickle thing. The fact is that the primary worry about trade wars was not necessarily the tariffs themselves, but the duration that any skirmish might last. As the trade war edges closer to its second anniversary, it’s becoming increasingly clear that economic damage is being done. The elevated recession risks are real, in our view, and should they increase further in coming months, it would be prudent to make additional defensive adjustments in portfolios.’ RBC Private Premier Banking We wanted to make sure our clients are aware of RBC Private Banking Premier. It is a unique banking and credit service offering personalized attention to help you meet your day-to-day financial needs. You receive a tailored banking and credit package to complement the best-in-class investment management and wealth planning. Let us know if you would like more information on the exclusive services and products available to RBC Dominion Securities clients. Some restrictions apply. RBC Banking Offers There are a number of excellent banking offers available to new and existing clients. Here are a few we would like to highlight: *Offer Extended - Get a Free 9.7” Apple iPad When You Open an All-Inclusive Bank Account Open a new RBC all-inclusive bank account by September 30th, 2019 and set up two of the following by November 29, 2019: Your payroll as a direct deposit / Two pre-authorized monthly payments / Two bill payments RBC Commercial Credit Card – Construction/Manufacturing/Logistics/Wholesale – What could you do with 51 more days before you need to pay your suppliers? Connect with a commercial account manager to understand RBC’s credit card program and how it can improve your working capital. Student Banking Open a new LEO Young Savers Account and RBC will add $25.00 to the bank account. (The ideal account for ages 12 & under) Open a new Student Banking Account and meet 2 additional qualifications, the student will receive $60.00 *Must be the first account opened in the name of the student* RBC Future Launch RBC’s Future Launch is an online portal empowering the youth of today, for the jobs of tomorrow. Proving help to youth through work related programs, tools and resources. Follow the link below to gain a new skill, grow your network or gain work experience.
Holtby & Associates Team Contact: Cairy Holtby 250.712.2116 | cairy.holtby@rbc.com Jones Schack 250.712.2117 | jones.schack@rbc.com Natel Hull 250.712.2187 | natel.hull@rbc.com Denise Gardner 250.448.1342 | denise.gardner@rbc.com
Please stay tuned to our website, www.cairyholtby.com You will be able to find articles we post as well as the regular Global Insight Weekly and Monthly publications. |
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Can we talk ourselves into a recession?Recent yield curve inversions have sparked recession fears. Now the fear is that fear itself will spark a recession.
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What China’s ascent in the university rankings means for CanadaIn the QS World University Rankings 2019, no Canadian schools made it into the top 25. Learn why this is important to the Canadian economy.
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| Investing Market volatility: It’s a mad, mad worldFor the first time in a decade, recession risks are on the rise. Learn which recession signal has turned red.
Research How Vancouver hit its AI strideVancouver is bringing west coast savvy to the AI race with 130 AI startups, four major investor groups, four incubators and four public AI labs.
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| Research Farmer 4.0: How the coming skills revolution can transform agricultureAgriculture could add another $11B to Canada’s GDP and make the sector more productive than auto manufacturing and aerospace combined.
Analysis Is the trade war the prelude to the main event?The U.S.-China trade war is the undercard to a much broader geopolitical faceoff that investors will have to get used to dealing with.
Analysis The UK has a new prime minister but the same Brexit quandariesBritain’s Brexit champion takes his turn at pulling the UK out of Brexit limbo. “No-deal” Brexit is a risk and we look at the tricky way ahead.
Business owners Are Canadian boards ready for their Amazon moment?Even sectors previously thought to be safe are now grappling with disruption. Here are six tips on how boards in Canada can prepare.
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ANALYSIS
FUNDING EDUCATION
With the summer sun setting sooner and nights getting cooler, it reminds us that fall will be here shortly. Here’s a recipe we can’t wait to try to get us in the fall mood:
Caramel Pumpkin Pie
Yields: 8-10
Prep Time: 15 min
Total Time: 1 hr 10 min
Ingredients
1 15-oz. can pumpkin puree
1/4 tsp. kosher salt
1 tsp. cinnamon
1/2 tsp. nutmeg
1/2 tsp. ginger
1/4 tsp. allspice
1/8 tsp. cardamom
1 14-oz. can sweetened condensed milk
2 large eggs
1 Basic Pie Crust Recipe (link in step 3 or buy pre-made)
1/2 cup. Dulce de leche or thick caramel, warmed
Directions
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Preheat oven to 425°.
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In a medium saucepan over medium heat, combine pumpkin, salt, and spices. Cook until pumpkin is warmed through, then pour into a bowl and let cool for a few minutes.
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Add sweetened condensed milk and eggs to pumpkin and whisk until smooth. Pour into Basic Pie Crust. Drizzle dulce de leche and, using a knife, swirl dulce de leche into pumpkin.
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Bake 15 minutes, then reduce oven temperature to 350° and continue baking until knife inserted 1" from crust comes out clean, 35 to 40 minutes. Cool completely before slicing.