Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
BofA Securities U.S. quantitative strategist Savita Subramanian raised her target for the S&P 500 in part because other strategists are getting bearish. BofA’s sell side indicator uses the asset allocation recommendations of Wall Street strategists as a inverse indicator – stocks historically perform best when strategists recommend underweights in equities,
“The latest upswing in Canadian inflation is being driven mostly by two major factors: 1) a reversal in gasoline prices from friend to foe , and 2) a renewed pick-up in shelter costs. The latter is due to a variety of forces, but most fingers are pointing at the 30.9-per-cent pop in mortgage interest costs. But rents are a big deal too, with nearly double the weight of interest costs. Even utilities costs are chipping in, with electricity now up 12.3 per cent year-over-year .
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