Banking, energy selloffs opportunities for investors with the courage to be contrarians MPelletierCIO
Overall, the good news is that the global economy is still on a reasonable footing, especially the U.S., with low levels of unemployment and improving producer price index and consumer price index data. One could argue the latest market correction may be just what is needed to slow what has been rather persistent services inflation by consumers — fear can have a large influence on behaviour.
We also are starting to agree with the futures markets about the direction of interest rates. They are now factoring in a 100-basis-point rate cut by the Fed within the next 12 months. This is quite a shift from just two weeks ago when most were expecting a 50-point increase on March 23. It wouldn’t surprise us to see the Fed pause, thereby putting itself in a similar position as the Bank of Canada.
More specifically, Canadian banks have been caught in the crossfire and look that much more attractive, especially considering how strong they are both financially and from a regulatory standpoint when compared to others such as the regional U.S. banks and certain parts of the Euro-banking sector.Article content
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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