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  5. TLT: If one believes a global recession is on the horizon, would you prefer to be liquid with CAD, USD, Gold, or some mix thereof? [iShares 20+ Year Treasury Bond ETF]
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Q: If one believes a global recession is on the horizon, would you prefer to be liquid with CAD, USD, Gold, or some mix thereof? Thanks.
Asked by David on April 30, 2026
5i Research Answer:

We would prefer a mix, and would also include some long bond exposure in the mix, via TLT or XLB. This assumes a recession results in lower interest rates.