What sectors would do well for each scenario/
We expect both economies to 'plod' along here. Canada likely has more in the way of headwinds between real estate, lower population growth and maybe not a whole lot in terms of obvious growth drivers in the economy. Gold and oil and probably tech would be the areas that we would view as being less sensitive to some of these risks.
The US continues to remain resilient and the AI investment is helping to keep the economy going as well. There will be some inflationary headlines from oil but we do think (assuming energy prices begin to settle down a bit over the coming month or two) that markets and the economy will be able to look through to the other side of this inflationary pressure. Industrials and certain areas of tech would likely do well here.