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Canadian Strategy Snapshot: Consumer Conundrum
Bottom Line: Although we remain Market Weight the Consumer Discretionary sector in Canada, recent underperformance and increased negative sentiment may be presenting interesting opportunities within the sector. While we believe trade concerns facing the sector may be legitimate in the near term, many of our contrarian indicators suggest recent weakness is largely overdone. As such, barring a recession, which we do not believe will occur in the next 12 months, investors should begin looking for opportunities within underperforming, high-quality Canadian consumer names.
Main Points:
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Consumer Discretionary Underperformance Reaches an Extreme
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Trade War Concerns Loom Large Over Expectations
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However, Core Fundamentals Remain Healthy
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Research & Strategy
June 12, 2019
Brian, Chief Investment Strategist and leader of the Investment Strategy Group, provides strategic investment and portfolio management advice to both institutiona...
VIEW FULL PROFILE
Research & Strategy
June 12, 2019
Bottom Line: Although we remain Market Weight the Consumer Discretionary sector in Canada, recent underperformance and increased negative sentiment may be presenting interesting opportunities within the sector. While we believe trade concerns facing the sector may be legitimate in the near term, many of our contrarian indicators suggest recent weakness is largely overdone. As such, barring a recession, which we do not believe will occur in the next 12 months, investors should begin looking for opportunities within underperforming, high-quality Canadian consumer names.
Main Points:
-
Consumer Discretionary Underperformance Reaches an Extreme
-
Trade War Concerns Loom Large Over Expectations
-
However, Core Fundamentals Remain Healthy
Read more
Brian, Chief Investment Strategist and leader of the Investment Strategy Group, provides strategic investment and portfolio management advice to both institutiona...
VIEW FULL PROFILE
BMO Capital Markets is a trade name used by BMO Financial Group for the wholesale banking businesses of Bank of Montreal, BMO Harris Bank N.A. (member FDIC), Bank of Montreal Europe p.l.c, and Bank of Montreal (China) Co. Ltd, the institutional broker dealer business of BMO Capital Markets Corp. (Member FINRA and SIPC) and the agency broker dealer business of Clearpool Execution Services, LLC (Member FINRA and SIPC) in the U.S., and the institutional broker dealer businesses of BMO Nesbitt Burns Inc. (Member Investment Industry Regulatory Organization of Canada and Member Canadian Investor Protection Fund) in Canada and Asia, Bank of Montreal Europe p.l.c. (authorised and regulated by the Central Bank of Ireland) in Europe and BMO Capital Markets Limited (authorised and regulated by the Financial Conduct Authority) in the UK and Australia.