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.
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