Things That Go Trump in the Night
It’s not what you know, but what you can’t know at this juncture, that gives food for thought for investment strategies. Our base case economic outlook is akin to a midafternoon tea for two: nothing too exciting, and the number two features prominently. About that rate for real growth and inflation for Canada and the US in 2017-18, and short-term US interest rates heading to nearly that level as well. Longer bond yields and oil prices drift only slightly higher, the Canadian dollar a few cents weaker.