Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

Weekly Poll

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Although US economic data released in April was “slightly weaker” than previous months, BMO Harris Private Banking nonetheless anticipates the economy to grow at a “modest pace,” with notable strength in the manufacturing sector.

In its April Market Commentary report, BMO foresees a year of global economic growth and “moderate” positive equity market returns that outperform weak - but positive - fixed income returns.

“Real GDP for Q1 was slightly lower than market expectations, at 2.2 per cent, but still relatively good for a recovery that is unfolding in the shadow of a major debt overhang,” said Jack Ablin, chief investment officer, Harris Private Bank. “We anticipate the US economy will grow at a modest pace, with particular strength in manufacturing.”

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