So what’s to make of this context of rising geopolitical uncertainty, tighter monetary conditions, and slower global economic momentum albeit with little recession risk on the horizon? We believe this simply reflects the fact that it’s getting late in the business cycle – a period where risk assets should continue to perform, but a more prudent approach to risk-taking must be reinforeced.
** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **