Monthly Newsletter: Portfolio Advisor - January 2024

January 18, 2024 | Thomas De Mello


RBC Global Insight Monthly - January 2024

I am pleased to share the latest investment strategy report from RBC Wealth Management—Global Insight, which provides our current thoughts on asset classes, the economy, and timely issues that impact investment strategy. This month’s highlights include:

Global Insight 2024 Outlook highlights: Bonds are back

Whether the U.S. economy will finally tip into recession and with the return of bonds as an attractive complement to stocks in a portfolio, investors have much to consider this year. Our 2024 Outlook examines the opportunities and challenges facing markets and asset classes in 2024.

Global equity: More to come

Our view laid out in the Global Insight 2024 Outlook is unchanged. We expect new highs in most major stock markets early this year, most likely followed by a U.S. recession.

Global fixed income: The subtraction of all fears 

As the fear of inflation dissipates, along with other concerns that hung over fixed income markets in 2023, we look at what investors can expect from what should be a lower rate environment in 2024

Read Full Report Here >


RBC Global Insight - Annual Outlook 2024 

RBC Wealth Management has launched the Global Insight 2024 Outlook, which showcases unique perspectives on the catalysts and challenges that could impact investment portfolios in the year ahead.

Read More Here >

2024 TFSA Information & 2023 RRSP Deadline

2024 TFSA Contribution Information 

You can now make your annual Tax-Free Savings Account (TFSA) contribution for 2024 (up to $7,000). If you haven’t maximized your TFSA contributions in the past, you can also catch up on your 2009-2023 contributions. The maximum possible contribution room for all years (including 2024) is $95,000 (assuming you were at least age 18 in 2009).

2023 RRSP Contribution Deadline

The RRSP contribution deadline for the 2023 tax year is February 29, 2024. Your contribution limit for 2023 is 18% of your 2022 earned income, to a maximum of $30,780, with certain adjustments (e.g. less any Pension Adjustment appearing on your T4 tax slip and plus any unused contribution room carried forward from previous years). Please check your latest NOA or refer to the MyCRA website to confirm your exact contribution limit.

For additional information and contribution options, please click the link below.

Click Here >

Special Housing Report 

Canada's housing market ended 2023 on a stronger rate 

Home resale transactions in Canada bucked the softening trend and rebounded a solid 8.7% m/m in December. What’s more, markets in Ontario and British Columbia—regions that cooled off the most since summer—recorded some of the larger increases.

It seems that a combination of price concessions from sellers and modest mortgage rate declines spurred more buyers into action. Transactions largely drew from pre-existing inventory as new listings fell for a third-straight month (down a significant 5.1% m/m nationwide).

Home prices continue to drift lower overall despite tighter demand-supply conditions. The composite MLS Home Price Index for Canada edged down 0.8% m/m in December, following declines ranging between -0.5% and -1.0% in the previous three months.

Read More Here >

Investing: Global Currency Outlook (Video) 

Dagmara Fijalkowski, Head of Global Fixed Income and Currencies with RBC Global Asset Management shares her outlook for bond yields and fixed income markets in 2024. In addition, Dan Mitchell, Senior Portfolio Manager, discusses the current outlook for the U.S. dollar and other global currencies in 2024.

 Watch Here >

Client Guide to 2023 Tax Reporting

This guide summarizes the important dates and required tax information to prepare your annual tax return. It also includes a handy list of potential tax slips you may receive from RBC Dominion Securities® (depending on your investment holdings and account activity). Important dates:

  • February 29, 2024: Last day for RRSP Contributions
  • April 30, 2024: Last day to file your 2023 tax return without penalty.
  • June 17, 2024: Last day to file your 2023 tax return without penalty if you are self-employed.

To help make tax time easier for you, your 2023 tax slips are available through RBC Wealth Management® Online, including mutual fund tax slips issued by RBC® (tax slips issued by other issuers outside of RBC will continue to be sent by regular mail). Simply log in to RBC Wealth Management Online to view your tax documents. For access to RBC Wealth Management Online, please contact us.

Learn More Here >

This information is not investment advice and should be used only in conjunction with a discussion with your RBC Dominion Securities Inc. Investment Advisor. This will ensure that your own circumstances have been considered properly and that action is taken on the latest available information. The information contained herein has been obtained from sources believed to be reliable at the time obtained but neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers can guarantee its accuracy or completeness. This report is not and under no circumstances is to be construed as an offer to sell or the solicitation of an offer to buy any securities. This report is furnished on the basis and understanding that neither RBC Dominion Securities Inc. nor its employees, agents, or information suppliers is to be under any responsibility or liability whatsoever in respect thereof. The inventories of RBC Dominion Securities Inc. may from time to time include securities mentioned herein. RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. RBC Dominion Securities Inc. is a member company of RBC Wealth Management, a business segment of Royal Bank of Canada. ®Registered trademarks of Royal Bank of Canada. Used under licence. © 2022 RBC Dominion Securities Inc. All rights reserved.