cooled to 5.9% in January after peaking at 8.1% in June, data on Tuesday showed.
The energy and materials sectors combined account for about 30% of the Toronto market's weighting. Oil has climbed 9% since December when China abandoned its zero-COVID policy and reopened its economy. "We expect a correction in the near term as the year-to-date rally in global equities has been disconnected from a realization, better reflected in fixed income markets, that rates will need to stay higher for longer," said Chhad Aul, chief investment officer and head of multi-asset solutions at SLGI Asset Management Inc.