Hotels, restaurants and attractions are reminiscent of life at the height of the 2006 Alberta oil boom, and this surge in growth is likely to continue through to the end of 2022. What’s “normal” for now?
The heatwave that Canadians recently experienced is somewhat of a precursor to what’s shaping up to be a scorcher of a summer from an economic standpoint. With 67% of Canadians having received at least one dose of the vaccine and provinces lifting even more restrictions, this will unleash many economic catalysts that we’re looking forward to.
Though recent lockdown measures have come into effect across Canada, we view this as merely a detour on the gradual return to normal. Our Quarterly Investment Commentary reflects this sense of optimism as we gain a greater understanding of what the new normal will look like — and when it may arrive.
With the changing of a season, we turn our attention to another custom: reflecting on the nearly-completed calendar year, with a commitment to applying our learnings as we plan for growth in the new year.
November was a spectacular month for global stock markets as the positive resolution to the U.S. election and the announcement of effective COVID-19 vaccines sparked a rally. With a good December, 2020 could look like a “normal year” for a typical balanced portfolio of stocks and bonds.