“With US monetary policy already in restrictive territory, the portfolio will be positioned defensively until we have a clear signal that the Fed is pivoting.” — J-P Chevalier & Marc Gagnon
Key Takeaways:
- The Fed’s rate hikes are continuing.
- The CPI prints are showing some positive signs, but the labour market is still tight.
- As China pivots away from its zero-COVID policy, a surge in cases is fuelling uncertainty.
- We continue to take a positive long-term view of commodities.
Jean-Pierre Chevalier, CFA
Senior Director, Portfolio Manager, US Equities and Thematic Investing
Marc Gagnon, M. Sc., CFA
VP, Portfolio Manager, North American Equities
