Strategy Notes

Equity markets started to push higher in May and although the tone is still somewhat sluggish, it bodes well for a possible move back to the highs during the summer. Equity markets do not seem to be overly concerned with higher interest rates except for sectors that are particularly sensitive to them. Interestingly, the TSX is showing some signs of outperformance to the U.S. markets, and this can largely be attributed to the oil and gas sector, but financials and industrials are also showing significant strength. We spent the last few months taking advantage of opportunities which arose amidst the volatility in the markets to fine-tune our portfolios. We will continue to watch this consolidation phase carefully as it develops.

As always, if you have any questions or wish to discuss whether any of the mentioned investments are suitable for you, please do not hesitate to call Ron Aloni at 604-6583056 or email raloni@leedejonesgable.com.

Best Regards,
Ron Aloni / Alan Goh