This is the latest update to Segal Rogerscasey Canada's 2014 Investment Outlook, which described the firm's position on four broad investment classes: equities, interest rates and fixed income, alternative investments and commodities.
This update is based on an assessment of the economic environment and data after the third quarter (Q3) of 2014. It includes a revised table listing developments in the U.S., non-U.S. developed and developing economies as well as additional influences that Segal Rogerscasey Canada believes are positive and negative for investors. It also updates the Summary of Views table of the 2014 Investment Outlook, indicating which of the firm's views have changed since the second-quarter update.
The Q3 update, "Steady as She Goes," imagines the world's economies as ships at sea:
In the U.S., the Captain, in this case Federal Reserve Chair Janet Yellen, continues to tell us the best routes to continue on this post-recession journey to arrive at the chosen destination - economic harmony - include modest growth, moderate interest rates, favorable markets and just-enough inflation. It is hard to disagree.
The update also notes that while the U.S. waters remain fairly calm, sailing conditions are uncertain from a global perspective.