June 2025 Market Update

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In this 18-minute Money Matters episode, award-winning adviser Chad Larson explains how tariff tensions, a Bank of Canada rate hold, and looming recession risks are pushing MLD Wealth to rotate into fairly-priced international dividend equities while maintaining gold and alternative assets to safeguard client portfolios

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Summary

In this episode, Chad Larson recaps his European business trip and Adviser-of-the-Year win while delivering a detailed May–June market analysis. He highlights the global economic landscape balancing AI-driven optimism in U.S. tech with tariff uncertainty, Canada’s slowing economy, and strategic portfolio shifts toward international dividend equities.

Highlights

• Chad Larson wins ICM Asset Management’s Adviser of the Year in alternative investments.
• U.S. markets surge on AI enthusiasm but face tariff-related volatility; Europe mixed, China weak.
• Oil holds near mid-$60s WTI; gold remains around $3,350/oz as a key hedge.
• Bank of Canada keeps rates at 2.75% amid sticky inflation and U.S. trade uncertainty.
• Canada’s job losses and rapid immigration raise recession risks.
• MLD shifts to 15–30 high-quality international dividend stocks for valuation and diversification benefits.
  

Key Insights

1. Economic Crosswinds: While AI-led tech strength fuels U.S. markets, global growth remains uneven—particularly with China’s slowdown and tariff pressures.
2. Canadian Strain: Job losses and population growth are straining Canada’s economy, leading Larson to advocate for tax cuts over further rate adjustments.
3. Global Diversification Strategy: MLD Wealth is trimming U.S. exposure and expanding into international equities, leveraging currency advantages and lower valuations for more balanced growth.
   

Conclusion

Balancing caution with opportunity, MLD Wealth’s outlook remains “cautiously optimistic.” By emphasizing global diversification, disciplined portfolio construction, and prudent risk management, Larson positions investors to navigate volatility while capturing long-term value beyond North America.

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