On the podcast today is director of ETFs Andrei Bruno. As the fourth quarter of the year wraps up, Andrei shares his perspectives on the current market environment and what outcomes and challenges he sees playing out for the rest of the year and into 2024. Andrei says market reactions suggest an anticipation of rate cuts early in the New Year and those probabilities of rate cuts are priced in for both U.S. and Canada. The Fed has indicated a cautious stance emphasizing a potential deviation from a smooth economic path. The Bank of Canada is perceived to have completed its rate hiking cycle, but recent GDP performance in Canada indicates flatness, raising the possibility of entering a technical recession if the trend persists. Andrei points out diversification remains paramount in uncertain economic times. He adds discussions about portfolio risk and strategic allocations need to occur and that longer-duration securities are potentially more attractive in an evolving interest rate environment.

Recorded on November 14, 2023.

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