I have discussed in recent newsletters how the near-term outlook for the North American economy and equity markets remains sound, albeit with the overhang of risks like US protectionism. There will be an inflection point, however, where we say good-bye to the expansion and hello to the next recession. It is not a matter of if, but when. As the weeks and months pass, watching for shifts in the data becomes ever more important.
Andrew Pyle, Senior Wealth Advisor and Portfolio Manager at The Pyle Group, Scotia Wealth Management, believes investors have another six months in the equity markets before there’s discussion of a correction and possible recession. Meantime, Pyle is putting client money into utilities and telecom stocks, while reducing exposure to the energy sector.