Top picks from Gordon Reid, president & CEO, Goodreid Investment Counsel
FOCUS: U.S. equitiesThe focus of the market has shifted, from the U.S. Federal Reserve’s attention on inflation to the economy, specifically the jobs market, the second piece of the Fed’s dual mandate. The market wants to ascertain if a reduction of interest rates is a natural easing of tight monetary conditions in an otherwise healthy economy or a desperate, late attempt to avoid a recession that the Fed has created by keeping rates too high for too long.
The bond market, with all its wisdom, is showing us the future as rates on two-year, ten-year and 30-year issues have fallen close to one percent from a level of about five to four per cent, plus or minus. So, if you’re a betting person, expect a total of 100 basis points of easing in the next few months. If the economy stays resilient equity markets are likely to rally, with the leadership group being the most profitable companies .
Positioning is key. At Goodreid, our response is unchanged. Take a balanced approach, a long-term view and hold high-quality companies that score well on profitability and growth. Over the decades it has allowed our clients to successfully navigate in both positive and difficult times.The Latin American answer to online giants Expedia and Booking.com, this is an inexpensive way to participate in a region with a young and increasingly wealthy demographic.
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