The Global Investment Outlook

Economic data has been resilient, recession risks have diminished, and inflation has cooled sufficiently for central banks to consider cutting policy rates at some point this year. In this environment, sovereign bonds are appealing, and while stocks have surged as investors embraced the improved odds of an economic soft landing, demanding valuations in U.S. large-cap stocks may limit upside potential.

This Global Investment Outlook includes:

  • The recommended mix of cash, fixed income instruments, and equities.
  • The recommended global exposure of fixed income and equity portfolios.
  • The optimal term structure for fixed income investments.
  • The suggested sector and geographic make-up within equity portfolios.
  • The preferred exposure to major currencies.

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Proof Point: Weak productivity is threatening Canada’s post-pandemic wage growth

 February 28, 2024 |Nathan Janzen
Canadian wage growth has been unusually high, but looks more modest when measured against surging inflation and relative to acute labour shortages earlier in the pandemic recovery. Now lagging productivity in Canada (along with a softening labour market...
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End of the correction? Canada’s housing market is warming up

End of the correction? Canada’s housing market is warming up

 February 14, 2024 |Robert Hogue
It may be the unusually mild weather or the modest drop in fixed mortgage rates since November—or both—but Canadian house hunters have more energy this winter. Importantly, they’re landing more deals. Home resales in Canada increased for the second month...
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