“We continue to take a positive long-term view on commodities, mainly base metals and energy. Even so, we tactically lowered our exposure to both during the summer.” — J-P Chevalier & Marc Gagnon
Key takeaways from their comment:
- After a strong rebound in July, the equity rally stalled in August.
- For now, the Federal Reserve and the Chinese Politburo hold the key to what will happen next with the economy.
- In the U.S., we continue to see a disconnect between mega caps and below $100 billion and small-mid cap innovators.
Jean-Pierre Chevalier, CFA
Senior Director, Portfolio Manager, US Equities and Thematic Investing
Marc Gagnon, M. Sc., CFA
VP, Portfolio Manager, North American Equities
