Make the Most of Your Summer – August 2024
The long warm days of summer are here. Enjoy.
Summer is a time to enjoy the good life.
Kai Lam
Update from JCIC’s Chief Investment Officer
In the year's first half, equity markets were driven by a narrow leadership of high-quality stocks exposed to secular growth trends such as AI (artificial intelligence). This left the rest of the market falling behind and that allowed us to take profits in some of our strongest performers to buy other high-quality companies with more attractive valuations. In July, we saw a strong rotation out of this year's winners and into laggards, as the relative value became very compelling.
Markets have been very active in the early part of August. We are anticipating the US Federal Reserve will make one or two interest rate cuts in September and four by the end of the year. These moves are being made in response to inflation coming down to targeted levels. This will support the economy and earnings.
End of Summer
Not that we want to rush through the season, but the reality is we are now just three weeks away from Labour Day. Be sure to soak up the warm summer days and beautiful sunsets while you can.
September is a great time for starting new projects after the lazy days of summer. Whether you have kids going back to school, you’re closing the cottage for the season, or planning an escape from the winter cold, we can help you reassess your financial situation. Please don’t hesitate to reach out to us.
Important dates to remember
Sept 2nd - Labour Day
Sept 4th - Next Bank of Canada meeting (potential for interest rate cuts in Canada)
Oct 14th - Canadian Thanksgiving
Nov 5th - US Election
Disclosure:
Although we obtain information contained in our newsletter from sources we believe to be reliable, we cannot guarantee its accuracy. The opinions expressed in the newsletter are those of JCIC Asset Management, its editors and contributors, and may change without notice. Any views or opinions expressed in the newsletter may not reflect those of the firm as a whole. The information in our newsletter may become outdated and we have no obligation to update it. The information in our newsletter is not intended to constitute individual investment advice and is not designed to meet your personal financial situation. It is provided for information purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor or a group of investors. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. We strongly advise you to discuss your investment options with your Relationship Manager prior to making any investments, including whether any investment is suitable for your specific needs.
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