(Bloomberg) -- Canada’s main stock index has surged almost 8% since its central bank began cutting interest rates in June, outperforming the S&P 500. Some...
-- Canada ’s main stock index has surged almost 8% since its central bank began cutting interest rates in June, outperforming the S&P 500. Some strategists say that’s an opportunity — they’re urging investors to sell down or even get out of Canadian stocks altogether.The world’s 10th largest economy is flashing some warning signs. Unemployment is rising and private sector output is flagging.
Thorne has some company. “We do see and have seen a slowing of the Canadian economy,” said Philip Petursson, IGM Financial’s chief investment strategist. Economists at Canadian Imperial Bank of Commerce now expect the Bank of Canada to make a 25 basis-point cut in October and two 50 basis-point cuts in December and January in order to “stay out of a recession.” Citigroup economist Veronica Clark is forecasting a 50 basis point cut in October.
Canadian stocks do have one powerful thing in their favor, and that’s the relative strength of the US consumer. The New England Patriots cut a former first-round pick in the NFL Draft out of TCU following a post on Instagram.Canadian Prime Minister Justin Trudeau's lieutenant in Quebec will soon quit his post, La Presse newspaper said on Wednesday, two days after the ruling Liberals lost a safe Parliamentary seat in the province.
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