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"Guarded Optimism"
Wealth Awesome February Newsletter [+ Wealth Awesome premium]
Qayyum Rajan
February 20, 2025
Welcome to the February edition of the Wealth Awesome newsletter. Thank you to the 15,000+ 🇨🇦 subscribers who join us today!
Market Update
Summary
Guarded Optimism: Rates cuts 👍️ Tariffs 👎️
The Q4 Bank of Canada quarterly outlook survey reflects a cautious optimism among Canadian businesses due to recent rate cuts and easing inflation pressures.
Firms, especially in the oil and gas sector, anticipate boosts in CapEx budgets and production, driven by projects like TMX and LNG Canada. Despite these positive signals, there remains a notable restraint in broader business investment, influenced by trade tensions and residual effects from past rate hikes.
While demand is improving, businesses remain wary, with moderate expectations for investment and employment levels, reflecting a complex landscape of both opportunities and enduring challenges
⏱️ TLDR: Some good news, some bad news - we are a bit uncertain about whats happening next with our friends south of the border.
Key Takeaways 💡
1. Cautious Progress: Canadian businesses report a mixed but improving outlook, with interest rate cuts fostering recovery, particularly in energy sectors, yet broader economic support is still needed to maintain momentum.
2. External Pressures: Rising trade tensions and the recent U.S. election introduce uncertainty, potentially hindering full-scale investment and expansion plans across various industries.
Canadian stocks over the last 30 days (Jan 20-Feb 20 2025)
With gold prices up about 6% in the last 30 days, and 16%+ over the last 6 months due to geopolitic and economic uncertainty, well on its way to breaking the $3,000 psychological barrier. Wheaton Precious Metals (WPM) has been a big benefactor of this, up 20% in the last month.
Their business model doesn’t actually do the mining, but rather they fund mines, get precious metals at predetermined prices and focus on streaming income. With 23 hedge funds holding it, its worth a look - a unique model.
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