History gives clues to how TSX could perform after rate hikes stop

The end of rate hiking cycles has generally proven to be a positive for the stock and bond market, one portfolio manager says. THE CANADIAN PRESS/Nathan Denette

After the most aggressive tightening campaigns ever, data show financial markets are expecting one more interest rate hike from the Bank of Canada this year and two more hikes from the Fed. If indeed the BoC hikes by a quarter-point one more time, its overnight rate would have surged 450 basis points since March 2022 to five per cent.

However, in addition to the halting of rate hikes, another positive driver for the TSX should be the market's attractive valuations, he says.

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