Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
BMO chief investment strategist Brian Belski took a bit of a victory lap as his “Buy Canada” trade idea worked out in the third quarter,
“the TSX gained 9.7% in the third quarter, outpacing the S&P 500 by over 4%, marking the strongest outperformance for Canada since the first quarter of 2022. Indeed, all sectors posted positive returns during the quarter and half the sectors in Canada posted double digit gains, led by the more interest rate sensitive areas like Real Estate, Financials and Utilities. While there has certainly been a yield focus to the recent rally, which does benefit Canada, this rally has been a generalized ‘Buy Canada’ trade that is exhibiting improvement in overall equity market flows; a trend we expect to persist well into 2025. Overall, this positive broad-based, low dispersion rally among TSX sectors is a…
