October Market Update
North American equity markets continue to push to record highs, bolstered by a promising start to the U.S. third-quarter earnings season. The results from major banks signal a healthy U.S. consumer, with spending supported by a resilient labour market, despite some softness among lower-income households. Historically, periods of declining interest rates – especially amid a “soft landing” scenario where the economy continues to grow – create favourable conditions for investment returns.
In this update, I will discuss the potential for a more meaningful divergence in the path of interest rates in Canada and the U.S., with implications for the Canadian dollar.
