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A review of the week's top global economic and capital markets news.
The S&P 500 climbed over 60% for the two-year period between 2023 and 2024, the best in a quarter century. But it turned volatile in early 2025. While markets have concerns over the future of interest rate cuts from the Fed, we are tactically bullish on equities as earnings growth broadens amid a resilient U.S. economy.
History shows that markets do favour a divided U.S. government as a way to moderate any extreme policy tilts or spending plans.
We think the chances of a U.S. soft landing - a scenario of bringing down inflation to around 2% without widespread job losses - has improved. Our tactical position favours a slight overweight to equities and commodities as the U.S. economy slowly sheds the weight of high levels of real interest rates.
A gradual cooling of jobs and a slowdown in consumer prices improved the chances that major economies will avoid a recession. Looser monetary policy from major central banks is adding to hopes that equities will continue to climb.
Blowout U.S. job numbers and stubborn inflation stuck above 3% have pushed out the timing of rate cut expectations from the U.S Federal Reserve.
Tax rates stayed the same but there were significant changes to capital gains in this year’s budget. See our breakdown.
Equities and bonds finished 2023 with robust gains expecting a rate cut from the U.S. Federal Reserve in early 2024.
Equities suffered as borrowing costs hit multi-year highs. Tight financial conditions in the U.S. also hurt bond markets across the globe.
Chhad Aul, Chief Investment Officer and Head of Multi-Asset Solutions, SLGI Asset Management Inc., discusses how the rate-hiking cycle will affect the economy. He also shares his insights on a potential recession, the performance of artificial intelligence stocks and the current risk-reward scenario provided by high-quality bonds.
SLGI Asset Management Inc. is the investment manager of the Sun Life family of mutual funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund’s prospectus. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Sun Life Assurance Company of Canada is the issuer of accumulation annuities (insurance GICs), payout annuities and individual variable annuity contracts (segregated fund contracts). Any amount that is allocated to a segregated fund is invested at the risk of the contract owner and may increase or decrease in value. Sun Life Financial Trust Inc. is the issuer of guaranteed investment certificates.
Sun Life Global Investments is a trade name of SLGI Asset Management Inc., Sun Life Assurance Company of Canada and Sun Life Financial Trust Inc. all of which are members of the Sun Life group of companies.
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