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Title:
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MARKET OUTLOOK
Mr. Bayley and Mr. Rayaisse provided the following insights:
* Global markets remain volatile amid continued U.S. political uncertainty;
* Bank of Canada expected to remain cautious; rate cuts anticipated;
* U.S. equity markets are underperforming due to economic and inflation concerns;
* Canadian and international equities showing relative strength; and
* Tariffs heavily impacting growth sectors (e.g., technology and discretionary).
The investment portfolio demonstrated resilience in a challenging market environment, with disciplined strategy and prudent risk management contributing to positive relative returns.
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