The Investment Committee of the Portfolio Advisory Group meets regularly to formally discuss markets, sector allocation and investment recommendations. Below is a brief synopsis of our current views. For specific investment strategy relating to your investment portfolio, please contact your ScotiaMcLeod advisor.
Investment Strategy: Few near-terms catalysts for Canada; Modestly better opportunities abroad
Equities: A second interest rate cut this year by the Bank of Canada has confirmed our suspicions that the Canadian economy should continue to lag many of its peers this year. Indeed, Canada’s equity market is alone among G7 countries to have a negative YTD performance. Low commodity prices, decelerating economic growth, a richly-priced housing market, and the upcoming federal election (see below) are among reasons that are deterring foreign investors from investing in Canadian equities at this time.