Something a little extra in your feed this week: a conversation recorded at a live event with the Chief Investment Officer of Global Wealth Management at Scotiabank (and Perspectives regular) Andy Nasr. Andy gives his take on the current state of the economy, interest rates, inflation, geopolitical events, and all the ways those factors are affecting stock markets and investing looking ahead towards the rest of 2024.
Key moments this episode:
2:00 — It’s been a roller coaster of sometimes seemingly conflicting economic news and headlines lately. What should people make of that?
6:30 — Has the Bank of Canada been able to ‘thread the needle’ with rates?
9:00 — What might happen to the global economy if interest rates remain elevated
9:40 — Why household finances are becoming a little more strained in Canada
11:48 — What is the impact of current interest rates on markets right now?
11:42 — Andy puts on his prediction hat: Where might GDP be headed in Canada?
17:05 — How ongoing geopolitical issues could affect economies and markets
18:12 — How the upcoming U.S. election could affect the Canadian economy
20:12 — What might play out in 2026 with the re-negotiation of CUSMA [Canada-United States-Mexico Agreement]
21:38 — A ‘hot take’ on labour markets
25:25 — What explains the discrepancy between U.S. markets and Canadian market growth in the last year?
27:02 — What role does the ‘Magnificent 7’ play in U.S. markets?
31:31 — What Andy looks at when it comes to geography in investing
35:30 — What impact have interest rates in the last year had on corporate debt?
37:45 — What kind of impact will the Chinese economy have on markets?
39:35 — What kind of opportunities does nearshoring bring to North America?
41:33 — Andy’s take on expectations for equities earnings growth over the next year
43:22 — What about the fixed income side when it comes to portfolio construction?
46:17 — What about the 60/40 equities/fixed income rule of thumb? Is that a dated trope when it comes to investing?
48:28 — Question from the audience: Where does Andy see real estate prices landing in the next two years?
49:51 — Question from the audience: Where might the Canadian Dollar go in the near future?
Perspectives