Important information
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Some references are US-specific and may not apply to Canada.
All investing involves risk, including the risk of loss.
Past performance does not guarantee future results.
Investments cannot be made directly in an index.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
In general, stock values fluctuate, sometimes widely, in response to activities specific to the company as well as general market, economic and political conditions.
The risks of investing in securities of foreign issuers, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
The S&P 500® Index is an unmanaged index considered representative of the US stock market.
The MSCI Japan Index measures the performance of the large- and mid-cap segments of the Japanese market.
The Nikkei 225 Index is a price-weighted average of 225 top-rated Japanese companies listed in the first section of the Tokyo Stock Exchange.
The price-to-earnings (P/E) ratio measures a stock’s valuation by dividing its share price by its earnings per share.
Shunto refers to the annual wage negotiations between unions and employers in Japan.
Quantitative easing is a monetary policy used by central banks to stimulate the economy when standard monetary policy has become ineffective.
Qualitative easing is a policy designed to shift the composition of the assets on a central bank’s balance sheet toward less liquid and riskier assets while keeping the size of the balance sheet steady.
Dividend yield is the amount of dividends paid over the past year divided by a company’s share price.
Gross domestic product (GDP) is a broad indicator of a region’s economic activity, measuring the monetary value of all the finished goods and services produced in that region over a specified period of time. Nominal GDP is not adjusted for inflation.
The Federal Reserve’s “dot plot” is a chart that the central bank uses to illustrate its outlook for the path of interest rates.
The opinions referenced above are those of the author as of March 18, 2024. These comments should not be construed as recommendations, but as an illustration of broader themes. Forward-looking statements are not guarantees of future results. They involve risks, uncertainties and assumptions; there can be no assurance that actual results will not differ materially from expectations.