Actionable Investment Opportunities
We highlight actionable investment opportunities across various asset classes, including short-term US and Canadian government debt, high-yield bonds, private credit strategies, preferred and structured equity, venture debt, and new allocations to private equity. Short-term US and Canadian governmen
Alternatives & Private Investments
Hedge funds had modest gains in Q2, with real estate showing mixed results and the office sector facing increasing defaults. Private equity performed well in 2022 and likely continued positively in 2023, while venture capital saw a decline but valuations stabilized, and down-rounds increased due to
Fixed Income Markets
Safe fixed income declined modestly in Q2 as interest rates increased. High yield bonds and leveraged loans appreciated YTD, but credit stress signs are emerging with increasing default rates.
Equity Markets
Equity markets rallied strongly with US stocks outperforming international markets. The broadening of the rally was driven by positive economic data and declining inflation, but uncertainty remains regarding H2 2023 and 2024 earnings due to several risk factors.
Shorter-term View
Multiple potential paths for equity returns are projected over the next 6-12 months, with an optimistic case envisioning a rise in S&P 500 index to 4,800-5,100 due to moderating inflation and possible rate cuts.
