"The labour market has been sending mixed signals of late. This month, we’ve decided to take a deep dive into one of the most important economic sectors: employment.”
— Sébastien Mc Mahon and Adil Mahroug
Highlights:
- The Federal Reserve clearly has its sights set on the tightness of the labor market. Our deep dive suggests that clouds are starting to form and that the picture might be distorted
- Contrary to 2022, we do not expect that valuations will play a key role in relative equity performance in 2023
- We keep a defensive positioning, and temporarily downgrade the CAD/USD to neutral
Your current economic review is also in the Document Centre of the Advisor Centre every month!
Search with the keyword "Macro" or bookmark the following link: Monthly Macro and Strategy
Sébastien Mc Mahon, MA, PRM, CFA
Chief Strategist, Senior Economist and Vice-President, Asset Allocation & Portfolio Manager
Adil Mahroug, M. Sc.
Senior Strategist and Director, Asset Allocation
