“The biggest challenge in the last few months in the money market space or in the fixed income space is that there’s a lot of uncertainty,” he said. “We try to prevent acting on news, but also take a step back and look at the data and see what it is telling us.”
With parliament prorogued since former Trudeau’s departure in January, Wan emphasizes the Canadian government’s inability to comprehensively address US President Donald Trump’s tariffs, an issue he says has furthered market uncertainty in recent months.
“Before Carney get elected, we didn’t even have someone to go to talk to Trump,” said Wan, portfolio manager at Purpose Investments. “The best we had was Doug Ford or another provincial premier representing us and negotiating with them.”
As the campaign trail moves forward, Wan says campaigns will react to market shifts, giving investors and advisors a clearer view on candidates’ platforms. Keeping track of market trends during the election cycle will be useful to understanding Canada’s economic future, according to Wan.
“Pay attention to every single piece of economic data, that will also impact what the candidates say,” he said. “At the end of the day, the candidates want to grow the economy again, they want to invest in the country. There are a lot of moving parts.”
