Special edition: Throw out those December statements
Year-to-date, here's how the markets are performing:
S&P +11.82, TSX + 12.11, DOW +11.75
If the losses on your December financial statements had you down, the market rally in January and February should give you a better outlook.
Recently, we attended a Manulife presentation that advised "travel with caution not fear".
This direction is fuelled by the following observations:
- No further need for the federal bank to raise interest rates
- Global economy and trade is okay
- Expected recovery for China in the 2nd quarter
- U.S. expansion remains intact
- Typical signs of recession are not present
- Canadian economy is facing headwinds and a possible recession in late 2019
- Canadian banks at 15 year pe low, as well as price to book ratio
- Canadian energy sector at a 15 year low
Avalon Advisors Bill Stone spoke on CNBC yesterday on his belief that 2019 will be a year of record upside.
