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Investor Knowledge + 5 Minutes = New Thinking
Life can be busy. Very busy at times. With so many things to do and to think about, many priorities can fall off the radar. Trying to eat healthy or exercise regularly can often take a back seat to a fast-food meal and just not being able to "find the time" to exercise. Keeping up to date with the news can also be something that falls off the priority list for many.
While keeping up with economic news and markets may seem like its yet another item to add to your "list", there are several important benefits that shouldn't be overlooked. Keeping up to date with financial news can help you to make better decisions, spot threats and opportunities early on, and provide you with a "heads up" on changes that you need to consider. Fortunately for investors, TD Asset Management Inc. (TDAM) has a timely and easy to digest publication that helps make the "list" a little less daunting.
Every quarter, the TD Wealth Asset Allocation Committee ("WAAC") publishes their thoughts on the markets and economy including a positioning overview in the Market Perspectives. In the recently published Q2 Market Perspectives the WAAC provides its latest views on asset classes, where investing opportunities may arise, and future scenarios for global economies and interest rates. Key Q2 highlights include:
- Inflation has made notable progress in recent months in many economies, enabling central banks to shift their warnings of potential interest rate hikes to a dialogue around the timing of highly anticipated cuts
- The U.S. is expected to continue to considerably outperform its peers. Through geopolitical risks and high borrowing costs, the U.S. is expected to continue to impress, buoyed by remarkable productivity. This is out of step with other countries where growth has cooled markedly. Canada is no exception to this pattern, but domestic inflation has not ceded as much as in other regions, creating a challenge for the Bank of Canada.
- In the Eurozone, both goods and services inflation have cooled substantially. The European economy has stalled since the third quarter of 2022 and traditional economic dynamics have settled in to rebalance demand and supply, and to restore price stability.
- Although Canadian economic growth has steadily evaporated, decades-long housing shortages are coming home to roost. Through January, Consumer Price Index (CPI) inflation excluding housing-related costs (rent, mortgage interest costs, and replacement costs) has already returned to 1.8% year-over-year ("YoY") and is at an even lower 0.6% (annualized) on a quarterly basis¹. Strip out the same housing factors from the classic core CPI (excluding food and energy) and we see virtually no growth in the quarter ending in January. The picture that emerges is of an economy with accumulating slack.
- China's economic challenges linger despite fiscal stimulus introduced toward the end of last year. The current economic situation is best characterized by the lingering ripple effects from the overhang in the housing market.
Access to the insights
For access to TDAM's full update, please check out the latest Market Perspectives.
1 Source: Bloomberg Finance L.P, TD Economics.
本文所含信息由道明资产管理有限公司提供，仅供参考。信息出自我们认为可靠的来源。本信息并未提供财务、法律、税务或投资建议。具体的投资、税款或交易策略应根据每位投资者的目标和风险承受能力加以评估。
本文档中的部分陈述可能包含预测性的前瞻性陈述（“FLS”），其中包含“预计”、“预期”、“打算”、“认为”、“估计”和类似的前瞻性表述或其否定形式。前瞻性陈述基于当前对未来普遍的经济、政治、相关市场因素（例如利率和汇率、股票和资本市场）以及普遍经营环境的预计和预测，并假定不发生税法或其他法律或政府管制方面的任何变动或灾难事件。对于未来事件的预计和预测本身受无法预见的风险和不确定性的影响。此等预计和预测可能在未来并不准确。前瞻性陈述并非对未来表现的保证。实际发生的事件可能与前瞻性陈述明示或暗示的事件存在实质差异。包括上文所述各项因素在内的多个重要因素均可能造成这种背离。您不应在任何程度上依赖于前瞻性陈述。
The TD Wealth Asset Allocation Committee ("WAAC") is comprised of a diverse group of TD investment professionals.WAAC的责任是发布季度市场展望，提供有关未来6至18个月市场行情的简明观点。WAAC的预测并非对未来结果的保证，实际市场事件可能与WAAC季度市场展望中明示或暗示的情况存在实质性差异。WAAC市场展望不可取代投资建议。
道明资产管理有限公司 (TD Asset Management Inc.) 是道明银行 (The Toronto-Dominion Bank) 的全资拥有附属机构。
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