Andrew Pease

GLOBAL HEAD OF INVESTMENT STRATEGY


2019 Global Market Outlook – Q4 update

September, 2019
Recession risks are rising as trade tensions depress global manufacturing and the inverted U.S. Treasury yield curve signals warning. While we’re cautious for now, a combination of central bank easing, a trade-war truce and China stimulus could brighten the outlook.

2019 Global Market Outlook

December, 2018
For 2019, we expect the Canadian economy to grow near 2%, or roughly in line with trend based on central bank estimates, but several risks loom. Specifically, consumption, crude oil and competitiveness – the “three Cs” – will be critical in shaping the outlook for 2019 and beyond.

2018 Global Market Outlook — Q4 update

September, 2018
The U.S. Federal Reserve (the Fed) is settling into a quarterly tightening routine that could see the federal funds rate rise above 3%. Even so, the upside for the U.S. dollar looks limited given its expensive valuation and crowded long positions. We believe a pause in the dollar uptrend should bring respite to beleaguered emerging markets.

2018 Global Market Outlook — Q2 Update

March, 2018
Tailwinds from global growth, strong earnings and fiscal easing currently outweigh headwinds from monetary tightening and inflation—but for how long?
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