Chief investment officer Mitchell on REIT outlook
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Dennis Mitchell, CEO and CIO of Starlight Capital, says that the Bank of Canada's shift from rate hikes to cuts is boosting the real estate sector. Speaking to BNN Bloomberg, Mitchell said that further rate cuts are expected this year and next.
“If you look at Canadian equities, U.S. equities or global equities, they are flat to slightly down over that same time period,” he said. “Sector leadership is rotating away from the Magnificent Seven, if you will, those big seven tech stocks, towards things that are more interest rate sensitive, like utilities, and like REITs. Our fund is benefitting disproportionately from that.”
