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Yana S. Barton, portfolio manager at Eaton Vance talks about how markets are shaping up at the beginning of the trading year and discusses her team’s market strategy. She says the uneven recovery in the markets is boding well for cyclical areas such as industrials. The TSX Composite Index kicks off the trading week in record territory after posting a strong start to 2021. However, it could be dragged lower with oil falling on U.S. dollar strength. U.S. futures are also pointing to a negative open as investors take a more cautious approach following gains last week. BILLIONS WIPED OFF CRYPTOCURRENCY MARKET AS BITCOIN SLIDES Cryptocurrencies have dropped sharply with bitcoin down as much as 21 per cent at one point. The drop wiped as much as US$170 billion off the cryptocurrency market in just 24 hours. Bitcoin was trading near an all-time high of nearly US$42,000 last week – more than quadrupling its value in the past year. Institutional investors have been helping to drive the recent rally. RBC POLL SHOWS CANADIANS REMAIN BULLISH ON REAL ESTATE While the worst of the pandemic may not even be behind us, more than half of Canadians recently polled believe home […]
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