US Market in Focus: Transitioning from Pause to Potential

From Policy Pause to Market Opportunity

After more than a year of global rate cuts, the effects of monetary easing are beginning to take shape. While the near-term outlook remains mixed, improving credit conditions and ongoing fiscal support could set the stage for renewed growth in the US in 2026.

The latest Canaccord Genuity Market in Focus report examines how this environment is reshaping market expectations, from moderating inflation and shifting rate paths to opportunities emerging in bonds, equities, and commodities.

Bond Markets: From Inflation Risk to Growth Risk

Bond markets are now shifting focus from inflation to growth. Yields remain near late-cycle levels, with investors pricing in slower momentum rather than aggressive tightening.

This transition has improved relative value opportunities across the fixed income spectrum, particularly for investors seeking stable returns and capital preservation. As markets recalibrate, well-positioned bond portfolios could benefit from easing policy and moderating inflation pressures.

Equities: Signs of Broader Participation

Equity markets remain dominated by large-cap technology, but breadth is beginning to improve. As shown in the chart below, performance is starting to expand beyond the top-performing sectors, suggesting a healthier and more diversified equity landscape ahead.

While leadership may continue to shift, disciplined positioning and diversification remain key, especially as policy transitions from restraint to renewal.

Looking Ahead

The coming year may reward investors who balance opportunity with caution. Diversified portfolios that blend income stability with exposure to long-term growth sectors, such as infrastructure, manufacturing, and clean technology, may be best positioned for the next phase of the market cycle.

At the Cash Management Group, we help clients navigate evolving market conditions with a focus on liquidity, stability, and yield optimization.

If you’d like to receive a copy of Canaccord Genuity’s full Market in Focus – November 2025 report or discuss how these developments could affect your portfolio, please contact us at 604.643.0101 or cashgroup@cgf.com.

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