Articles:
"Elections 2020: Key issues for investors" – October 1, 2020
By Global Portfolio Advisory Committee (GPAC)
As the elections approach, there are issues specific to financial markets that warrant attention. The attached chart pack addresses key considerations from an investment standpoint, and what’s at stake for the equity market.
“Automation: Technology advancements lead to new products and higher productivity” – September 10, 2020
By Portfolio Advisory Group
The primary objective of industrial automation is to make manufacturing operations more profitable. This is achieved in several ways, such as developing higher-quality products, lowering labor and materials costs, and reducing the need for input inventories on hand.
“Ground zero in the COVID-19 upheaval: The future of travel and leisure” – September 4, 2020
By Portfolio Advisory Group
If we had to select a business model that exemplifies the devastating impact of the pandemic on revenue trends, the travel industry is likely at the top of the list. For the quarter ending June 2020, the two largest online travel agencies both posted year-over-year revenue declines of approximately 90 percent. RBC Capital Markets, LLC Internet Analyst Mark Mahaney believes this marks the low in revenue trends, but he only expects a modest improvement through year-end, with bookings down 70 percent and 50 percent year over year in Q3 and Q4, respectively.
“Speed bump in the secular growth of the sharing economy” – August 24, 2020
By Portfolio Advisory Group
While the online facilitation aspect of this new business model works well in the COVID-19 world, the personal peer-to-peer interaction element is clearly a problem. But even as the broader economy continues to struggle, there are signs the sharing economy may bounce back to previous growth trends in relatively short order. People are social animals, so we would expect social-distancing habits to fade in the absence of widespread health fears.
“Cloud genie is accelerating out of the bottle” – August 3, 2020
By Portfolio Advisory Group
This report explores how COVID-19 has elevated the importance of cloud computing, bringing it to the forefront of corporate agendas, as companies seek out its increased agility benefits and efficiency gains, both of which have become pre-requisites to compete effectively in an accelerated digital world.
"Drug discovery & diagnostics They might be just what the doctor ordered"– July 22, 2020
By Portfolio Advisory Group
The COVID-19 pandemic has elevated public awareness that infectious diseases have not been eradicated, and that companies doing novel research will be able to drive new medical discoveries and be rewarded for their success. In addition to R&D-driven drug discovery firms, other beneficiaries of the pandemic response include companies developing test kits and diagnostic machines to reliably identify those infected.
“Telemedicine Stepping out of the shadows to take center stage” - July 22, 2020
By Portfolio Advisory Group
Prior to COVID-19, telemedicine was gradually coming into its own as patients, health insurance payors, and health care providers gained comfort with the technology to realize the convenience and cost savings of using virtual channels for receiving and providing care.
“Special report: Mixed Signals” – April 21, 2020
By The Global Portfolio Advisory Committee. RBC Wealth Management
The rate of new COVID-19 infections appears to be slowing in North America and Europe, and equity markets have made up much of their lost ground. But even as markets anticipate that major economies will start to reopen sooner rather than later, the historic plunge in the price of crude oil highlights the complex challenges facing major economies. We appraise the evolving situation and the implications for equities.
"A very different kind of Crisis" - April 7, 2020
By The Global Portfolio Advisory Committee. RBC Wealth Management
The economic consequences of COVID-19 are anything but clear-cut. Yet it’s not just the depth and duration of the downturn that matters. The key is how quickly the rebound occurs. And with equity markets bouncing back forcefully even as uncertainties swirl, investors should brace themselves for more volatility—both to the downside and upside.
"COVID-19: Thoughts on the Market and the Future" - March 26, 2020
By Veritas Investment Research
The current crisis has and will hit Main Street much more quickly and in a way that is very hard, if impossible to counteract. Canada enters this downturn at greater risk because of record debt at all levels – household, corporate and government. Shuttering or restricting businesses will mean dramatic declines in income for companies and for individuals. Given leverage, the drop in income could be devastating if extended for even a few months. The socio-economic impact of COVID-19 is likely to be much more significant than the last downturn as a result.
"Are Canadian bank dividends sustainable?" - March 18, 2020
By the Portfolio Advisory Group
Investors have sold off the bank group in a very aggressive fashion during the crisis, with the TSX/S&P Commercial Banks Index down approximately 30% from its February high. Low interest rates, slowing economic activity, the collapse in energy prices, and credit concerns are all top of mind and driving investor concern around dividend sustainability. While nothing is ever certain, especially in such uncertain times, below we look at key factors investors should consider when assessing the dividend outlook for the Canadian banks.
Podcasts:
“Market update” – October 16, 2020
By Mark Bayko and Jim Allworth from the Global Portfolio Advisory Committee
Mark Bayko and Jim Allworth from the Global Portfolio Advisory Committee provide an update on the investment outlook. Their conversation examines the economic progress made to date, upcoming U.S. elections, thoughts for the year ahead, and some things learned from this crisis that are worth remembering.
“Update on COVID-19 and the race to develop a vaccine” – August 20, 2020
By Janet Engels, CFA
Dr. Kennen MacKay, Managing Director and Co-Head of Biotechnology Research for RBC Capital Markets, joins Janet Engels, Head of the Portfolio Advisory Group – U.S., to talk about where things stand with COVID-19. They zero in on the data on the number of cases, and discuss how close we are to a vaccine as well as the impact of the race to find effective treatments, now and in the future. Janet asks the question on all our minds: “When will we be back to normal?”
“The road to recovery for the U.S. economy” – June 3,2020
Tom Porcelli, a Managing Director and Chief U.S. Economist at RBC Capital Markets, & Janet Engels, Head of the Portfolio Advisory Group – U.S.
Discussion on post-COVID-19 U.S. economic recovery. Their conversation examines the key economic data, the outlook for employment and consumption, and the effect of stimulus measures. They also explore whether negative interest rates are a possibility in the U.S.
“The outlook for U.S. equity markets” – May 20,2020
Featuring Lori Calvasina, RBC Capital Markets, LLC Head of U.S. Equity Strategy & Janet Engels, Head of the Portfolio Advisory Group
The duo discuss the outlook for U.S. stocks following the markets’ rebound from the March lows. Their conversation examines the factors that have contributed to the rebound, the prospects for EPS, and current market valuations. Lori believes markets will remain choppy in the months ahead, and shares her detailed views on sectors and growth stocks.
“The transition from lockdown to reopening " – May 5, 2020
Featuring Mark Bayko, Head of the Portfolio Advisory Group & Jim Allworth, RBC Dominion Securities’ Investment Strategist
They touch on the psychological impact that may linger for some, the outlook for equities and oil, and how the crisis may have accelerated some business trends that were already in place.
"How emerging markets are coping with the health and economic crises" – April 30, 2020
Mark Bayko, member of RBC Wealth Management’s Global Portfolio Advisory Committee, joins Polina Kurdyavko, Head of Emerging Markets and Senior Portfolio Manager at BlueBay Asset Management.
The conversation is surrounded around how emerging markets are handling the health and economic crises. They examine various approaches undertaken by regions and countries, the outlook for currencies, opportunities and risks, and why Asia may emerge from this in a stronger position relative to others.
"COVID-19 update: A conversation with RBC Capital Markets biotech analyst Kennen MacKay" – April 14, 2020
Featuring Janet Engels, Head of the Portfolio Advisory Group – U.S., interviews Dr. Kennen MacKay, Managing Director and Co-Head of Biotechnology Research for RBC Capital Markets
The conversation will include Kennen’s thoughts on where we are in the spread of the virus and whether signs of a peak in cases are evident. They’ll also talk about what’s needed to reopen the U.S. economy, the lessons we can learn from other geographic regions, and the progress being made on treatments or a vaccine.
“The path to recovery remains uncertain” - April 6, 2020
Featuring Mark Bayko, Head of the Portfolio Advisory Group & Jim Allworth, RBC Dominion Securities’ Investment Strategist
Mark Bayko and Jim Allworth, both members of the firm’s Global Portfolio Advisory Committee, provide an update on the outlook. Despite the view that significant uncertainty remains near-term with respect to the path towards economic recovery, they continue to believe the longer-term drivers of earnings and cash flows for successful businesses remain intact.
"Market Bottoms Take Time to Form" - March 30, 2020
Featuring Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy
The past week saw four big up days for equities, and that tells Lori Calvasina that we haven’t seen enough capitulation to signal a new bull run. She believes more lows may lie ahead. As Head of U.S. Equity Strategy at RBC Capital Markets, Calvasina has been listening to big investors and studying market sentiment – and she’s detecting too much calm given the economic storm. On our latest podcast, she explains how investors should approach the current market and prepare for a stronger 2021.
"Coronavirus, the oil shock, and the Canadian market impact" - March 25, 2020
Featuring Patrick McAllister, CFA & Mark Bayko, CFA
To help make sense of the challenging environment, Mark Bayko, Head of the Portfolio Advisory Group, and Patrick McAllister, Canadian Portfolio Advisor, discussed how the coronavirus outbreak and oil price shock are impacting the Canadian economy and stock market, what they’re observing from the fast-moving developments, and what to expect from here.
“Coronavirus and the outlook for U.S. equities” - March 23, 2020
Featuring Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy
As the uncertainty and volatility from COVID-19 continue to spread, we spoke with Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy, about the outlook for U.S. equity markets. She told us what she’s observing from the situation’s evolving dynamics, which sectors are showing potential, and what the implications are for the earnings picture.
“Coronavirus developments and market impact” - March 18, 2020
Featuring Jim Allworth, RBC Dominion Securities’ Investment Strategist
As the COVID-19 situation continually evolves, this is a period of great uncertainty for all of us. To help make sense of these difficult times, we had a conversation with Jim Allworth, RBC Dominion Securities’ Investment Strategist, on the economic impact of the outbreak and what this disruption means for financial markets, what we’re observing during these fast-moving developments, and what to expect from here.
