Greg Newman's Top Picks: April 12, 2023

Top picks from Greg Newman, senior wealth advisor and portfolio manager, Newman Group, ScotiaMcLeod

FOCUS: North American stocks and protection strategies 

MARKET OUTLOOK:

Many continue to call for caution while believing a recession to be around the corner. Yet, bond yields continue to fall and equities continue to gain so far this year. Earnings expectations are still constructive and the labour market is still strong. The bears argue that the lag effects of the steep rate hikes will start to work their way through and that inflation, although benign today, will be an unknown going concern for some time. Additionally, that bank lending will be lower because of the inverted yield curve and the deposit situation of the U.S. regional banks.