FROM THE GLOBAL CIO OFFICE - By Candice Bangsund, Vice President and Portfolio Manager, Global Asset Allocation
Risk appetite prevailed once again in November as investors embraced some favourable developments on the trade, political, and global growth fronts. Of note, investors welcomed news of progress towards a “phase one” trade deal and even the possibility of a rollback in existing tariffs. Meanwhile, the latest polls revealed that PM Boris Johnson is expected to secure a stable majority at the December elections - which would ultimately remove the immediate threat of a no-deal Brexit. Finally, there was some good news on the state of the global economy, where the outlook has brightened and economic indicators appear to be firming in an encouraging sign that the worst of the factory-driven downturn may be behind us.