
Navigating the Economic Obstacles
Unresolved challenges—sequestration in the U.S., Europe’s recession, China’s extended slowdown—could affect markets in the months ahead. — see page 3
China Property Market Executive Summary
In a world of sub-par economic growth, more lies on China’s shoulders than ever before, a key reason why China’s property market has become a flash point of investor concern. — see page 7
Commodities
Following the April slump in most commodity prices, see our latest thoughts on gold, energy, industrial metals, and agricultural commodities. — see page 24
Canada Equity Market
We are cutting our recommended rating to Neutral — see page 15
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