(Bloomberg) –Canadian stocks are primed to keep breaking records in months to come thanks to ready-to-deploy retail cash hoards and foreign investor inflows, according to BMO Capital Markets.
“There remains a lot of room for Canadian stocks to run to continued new price highs,” Brian Belski, the bank’s chief investment strategist, wrote in a Tuesday note after the S&P/TSX Composite index hit an all-time high Monday. The benchmark touched 23,116.39 on the back of soaring gold prices.
Retail investors have solid cash positions that are ready to be unleashed, according to Belski. That’s even as institutional investors have already deployed some of their excess capital in the first half of 2024, he noted, adding that Canadian households continued to hold decade-high levels…
