Insights

Global central banks this month have offered something for everyone from further interest rates hikes in Japan to rate cuts in Canada and Europe, while the Federal Reserve remained motionless.

Every administration enters office with aggressive policy goals. But a lot of give-and-take may be needed to turn goals into policy.

After years of small-cap underperformance relative to large-cap counterparts, the tide looks to be turning. We look at why investors shouldn’t overlook this aspect of the 2025 equity outlook as small caps seem poised to return to form.

We pinpoint five reasons why U.S. equities capped off a banner year in 2024 and why investors were willing to pay for premium valuations. We also offer thoughts on the environment in 2025 and how to approach portfolio positioning.

Higher productivity has propelled the U.S. economy ahead of its major peers in recent years, offering a blueprint for other countries and raising the stakes in the global race to harness emergent technologies such as GenAI.

Learn what’s on the horizon for markets and the Canadian dollar—and discover four interesting investing opportunities.

Despite potential headwinds, we are generally constructive on Canadian markets, though we expect less outperformance in credit.

How can investors separate the policy changes that are likely to really matter for the economy from those that get a lot of press but may not have the most traction?

The Fed has cut policy rates by 75 basis points since September only to see longer-term Treasury yields and mortgage rates increase by the same degree. We take a closer look at this divergence and its implications.