"Canada's business cycle bounce appears to have run its course," says BAML's Neil Dutta,...

|By:, SA News Editor

"Canada's business cycle bounce appears to have run its course," says BAML's Neil Dutta, expecting recent strong macro data to become less so. He takes note of the country's curious terms of trade hit - its eastern half importing expensive Brent crude, while the west exports cheaper WTI. Bottom line: Reduce exposure to Canadian risk assets and increase holdings of fixed income.