Whether the U.S. economy enters a recession in the next few months remains an important, if not crucial, anchor for any investment strategy. Pleasantly surprised by the resilience of the U.S. economy, this edition highlights a few reasons that underlie the recent “American exceptionalism”.
Highlights:
- Despite the recent resilience of the U.S. economy, our internal model continues to point to elevated recession risks ahead.
- Within equities, valuations are getting pricier globally. Canada, U.S. small caps and EAFE seem to offer better value.
- The sharp fall in market rates in November led us to tactically close some of our overweight on sovereign bonds.
Your Monthly Macro & Strategy is on the iA Global Asset Management website and in the Document Centre of the Advisor Centre. Bookmark the following link: Monthly Macro and Strategy.
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Your experts
Sébastien Mc Mahon, MA, PRM, CFA
Adil Mahroug, M.Sc.
Tuyen Tran, M.Sc., CFA |
"iAGAM" is a tradename under which iA Global Asset Management Inc. and Industrial Alliance Investment Management Inc. operate.
