Greg Newman, senior wealth advisor and portfolio manager with the Newman Group at ScotiaMcLeod

FOCUS: North American equities and protection strategies

MARKET OUTLOOK:

Investors are enjoying one of the sharpest rallies in 50 years underpinned by tamer inflation, solid earnings growth and a re-accelerating U.S. economy.  

Powerful tailwinds, such as North American reshoring, a healthy U.S. consumer, artificial intelligence, a U.S. election year and ESG spending are fuelling the charge. 

That said, buoyant equity positioning, peak seasonality, wars, an uncertain U.S. federal election outcome and rising short-term bond yields make for at least a reasonable chance of correction

All in, we are tactically leaning into the rally, but still finding attractive options in fixed income.

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TOP PICKS:

Pfizer (PFE NYSE)

Pfizer offers investors a compelling valuation, a rich dividend and a nice growth profile.

Citigroup (C NYSE)

Citigroup offers investors a compelling valuation, a decent dividend a nice growth profile.

Brookfield Corp (BN TSX)

Brookfield Corp. offers investors a compelling valuation and an exciting growth profile.

PAST PICKS: March 3, 2023

High-Interest Savings

• Return: 5 per cent

Telus (T TSX)

• Then: $27.31
• Now: $22.49
• Return: -18 per cent
• Total Return: -11 per cent

AltaGas (ALA TSX)

• Then: $23.89
• Now: $28.90
• Return: 21 per cent
• Total Return: 28 per cent

Total Return Average: 8 per cent