Stephane Marion; Executive Vice-President; Chief Economist and Strategist; National Bank
Denis Girouard; Executive Vice-President and Co-Head; Financial Markets; National Bank
In this video:
Market Performance
- All asset classes are up to start the year, led by U.S. Equities.
- The growth of U.S. Equities is supported by the anticipation of the rapid deployment of AI (Artificial Intelligence) within companies, which would boost productivity and increase earnings.
Economic Data
- For the first time since 1999, the rate on Cash/T-Bills exceeds the Earnings Yield.
- U.S. Manufacturing activity is at a cyclical low.
- U.S. Excess Savings are now fully depleted according to the Fed.
Bank Rates
- Canada's most restrictive real policy rate since 2009.
- Surge in Canadian population is increasing demand on the economy.
As always, we are available for any questions or information you may require.
- Your Creed Capital Management Team