Investment Strategist RBC Dominion Securities
Jim Allworth has been in the investment business for 51 years, both as a research analyst and portfolio strategist. He has been with RBC Dominion Securities for more than four decades, where he has developed investment policy for the firm and translated that into solutions for individual clients.
As an investment strategist, Jim utilizes RBC’s extensive global economic, political, and sector analysis to develop a strategic view on the expected direction of major financial markets.
Jim co-chairs the Global Portfolio Advisory Committee (GPAC) which provides strategic analysis of financial markets and establishes the asset allocation mix for clients worldwide. He regularly contributes to GPAC’s Global Insight monthly publication.
Jim is a graduate of Simon Fraser University, with a concentration in economics.
A more complicated picture for the next stages of AI development and renewed geopolitical volatility have kept equities in check recently. But if unusually energetic earnings estimates for 2026 and 2027 prove achievable, more upside ahead is likely.
Equity markets need the Strait of Hormuz to reopen and the AI wave to play out as advertised. Both are plausible, neither guaranteed.
Amid the uncertainty swirling from the Middle East crisis, several forces are pushing and pulling on stock markets. Bouts of intense volatility are likely.
After three consecutive years of strong gains for most equity markets, nothing historically rules out a fourth.
The scorecard indicators remain mixed, including a shift in the yield curve indicator. The government shutdown has limited employment data, confirming a cautious investment approach is needed, as ongoing policy and trade shifts affect the economy.
Equity markets have followed diverse paths in the first three months of 2025. We think several factors are now in play that will influence the direction they take from here.
There have been no recent scorecard rating changes. However, two of the seven indicators have failed to move in the anticipated direction over the past month.