Important information
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Some references are US centric and may not apply to Canada.
All investing involves risk, including the risk of loss.
Past performance does not guarantee future results.
Investments cannot be made directly in an index.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
Should this contain any forward looking statements, understand they are not guarantees of future results. They involve risks, uncertainties, and assumptions. There can be no assurance that actual results will not differ materially from expectations.
Diversification does not guarantee a profit or eliminate the risk of loss.
In general, stock values fluctuate, sometimes widely, in response to activities specific to the company as well as general market, economic and political conditions.
Fixed-income investments are subject to credit risk of the issuer and the effects of changing interest rates. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating.
Stocks of small and mid-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.
Alternative products typically hold more non-traditional investments and employ more complex trading strategies, including hedging and leveraging through derivatives, short selling and opportunistic strategies that change with market conditions. Investors considering alternatives should be aware of their unique characteristics and additional risks from the strategies they use. Like all investments, performance will fluctuate. You can lose money.
Many products and services offered in technology-related industries are subject to rapid obsolescence, which may lower the value of the issuers.
The risks of investing in securities of foreign issuers, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
Investments in companies located or operating in Greater China are subject to the following risks: nationalization, expropriation, or confiscation of property, difficulty in obtaining and/or enforcing judgments, alteration or discontinuation of economic reforms, military conflicts, and China’s dependency on the economies of other Asian countries, many of which are developing countries.
The Survey of Consumers is a monthly telephone survey conducted by the University of Michigan that provides indexes of consumer sentiment and inflation expectations.
Gross domestic product (GDP) is a broad indicator of a region’s economic activity, measuring the monetary value of all the finished goods and services produced in that region over a specified period of time.
The European Central Bank (ECB) is responsible for the monetary policy of the European Union.
Yield is the income return on an investment.
Easing monetary policy includes actions by a central bank to to stimulate growth in the economy.
Inflation is the rate at which the general price level for goods and services is increasing.
Disinflation, a slowing in the rate of price inflation, describes instances when the inflation rate has reduced marginally over the short term.
Core inflation is the change in the costs of goods and services but does not include those from the food and energy sectors.
Headline inflation is a measure of the total inflation within an economy, including commodities such as food and energy prices.
The UK Consumer Price Index (CPI) measures change in consumer prices as determined by the UK Office of Statistics.
The Federal Reserve Bank of Atlanta’s Business Inflation Expectations Survey was created to measure the year-ahead inflationary sentiments of businesses in the Sixth District. About 300 panelists receive the survey each month, and represent businesses of various sizes headquartered within the Sixth District, which encompasses Alabama, Florida, Georgia, and sections of Louisiana, Mississippi and Tennessee. Survey responses are weighted by industry shares of national gross domestic product.
The European Central Bank’s Consumer Expectations Survey is a monthly online survey of, currently, around 14,000 adult consumers (i.e. aged 18 or over) from six euro area countries: Belgium, Germany, Spain, France, Italy and the Netherlands.
Hawkish is to favour relatively higher interest rates if they are needed to keep inflation in check
Personal Consumption Expenditures (PCE) includes a measure of consumer spending on goods and services among households in the US.
The opinions referenced above are those of the author as of Jan. 22, 2024. These comments should not be construed as recommendations, but as an illustration of broader themes. Forward-looking statements are not guarantees of future results. They involve risks, uncertainties and assumptions; there can be no assurance that actual results will not differ materially from expectations. .