Cidel - Q4 | Quarterly Report


Looking Back
In our opinion, these were the most important developments to close 2017…
Markets closed the fourth quarter in an ebullient mood, reflecting continued confidence in the economic outlook. While the yield curve flattened in response to a US interest rate hike, bond yields rose enough to fuel some debate over the outlook for rates.
In the US, the passing of a significant tax reform package was the biggest story. The headline impact would suggest a high single digit boost to corporate earnings, but the more nuanced longer term implications are still to be seen.
The UK made lurching progress along the path towards leaving the European Union, finalizing an agreement on the first phase of issues. Despite the gloom, sterling has recouped a large part of its losses incurred against the US dollar since June 2016.
On the back of positive data, the Japanese economy seems poised to enter a period of sustained nominal GDP growth, consistent with the overall theme of synchronized global growth.  


Looking Forward
As we begin 2018, here are the themes and issues at the forefront of our Investment Team’s thinking.
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With equity markets soaring, is it time to consider rebalancing?
The risk inherent in the voracious search for yield
The Retail Apocalypse – some hope for the beleaguered sector?
The impact of the sweeping US tax reform
Artificial Intelligence – the effects and opportunities will not always be obvious

Socially Responsible Investing

Philip Young on Cidel’s approach to this important opportunity in the investment landscape

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Spotlight on Cidel

A fresh update of our corporate overview

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Away From the Desk

Cidel in the News

Let's Talk

At Cidel, we pride ourselves on our deep understanding of our clients' goals. Only with that understanding can we provide you with the customized solutions that will achieve your objectives. We would love to sit down with you to see if we can help.

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This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The information contained in this document has been compiled by Cidel Asset Management Inc. from sources believed to be reliable, but no representations or warranty, express or implied, are made by Cidel Asset Management Inc. as to its accuracy, completeness or correctness. The opinions expressed are as of the date of this publication and may change without notice and are provided in good faith, but without legal responsibility. Cidel Asset Management Inc., carrying on business as Cidel, Cidel Financial Group, Toron Asset Management International, (“Cidel”) is registered as a portfolio manager, investment fund manager and exempt market dealer in Ontario. Cidel is also registered as a portfolio manager and exempt market dealer in the provinces of Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Quebec and Saskatchewan. This document may not be reproduced, distributed or published by any recipient hereof for any purpose.