Insights Market And Economic Outlook

Expert Access — 2025 Investment Outlook

Discover what economic and market trends our Chief Investment Officers are monitoring in Canada and the U.S. for 2025.

David Donabedian Jan. 16, 2025 8-minute play time

Key highlights from the video:

Economic outlook: The Canadian economy is growing but at a slower pace, with potential headwinds from proposed U.S. tariffs and a weaker Canadian dollar. The U.S. economy starts the year strong, with resilient growth and reduced inflation.
Policy impacts: U.S. fiscal policies, including tax cuts and deregulation, could influence economic growth, but sweeping tariffs may have negative effects.
Market outlook: The U.S. equity market is in a bull market with strong profit forecasts, but valuations are high. Mid-cap and small-cap companies may offer more upside. Canadian equities are relatively cheaper with higher dividend yields.
Key takeaway for investors: Volatility is natural, but over the long-term equity returns have been positive. Focus on long-term investment strategies and diversification.

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