RBC Dominion Securities IMF Global Growth Forecast 1

RBC Dominion Securities IMF Global Growth Forecast 1

RBC Dominion Securities IMF Regional Economic Growth Forecasts 2

RBC Dominion Securities RBC Economic Growth Forecast 3

RBC Dominion Securities RBC Inflation Forecast 4

RBC Dominion Securities Accommodative Central Banks 5

RBC Dominion Securities The Big Four Drivers 6

RBC Dominion Securities Optimism – Full employment 7

RBC Dominion Securities Optimism – Actual positive wage growth 8

RBC Dominion Securities Optimism – High Consumer Confidence 9

RBC Dominion Securities Optimism – Consumers continue to spend 10

RBC Dominion Securities Forecasts are always higher 11

RBC Dominion Securities Markets move from lower left to upper right 12

RBC Dominion Securities Equity Markets – Long Term 13

RBC Dominion Securities Bond Markets – Long Term 14

RBC Dominion Securities Time in the market vs. Timing the market 15

RBC Dominion Securities Valuation Risk 16

RBC Dominion Securities Valuation Risk - Market above fair value = Reduced Risk/Reward 17

RBC Dominion Securities The valuation bullseye – August to December of 2018 18

RBC Dominion Securities Spending Risk – Consumer & Government Debt 19

RBC Dominion Securities Spending risk - What government doesn’t love to spend 20

RBC Dominion Securities Political Risk - Democratic nomination potential outcomes 21

RBC Dominion Securities Global Economic Risk 22

RBC Dominion Securities Global Economic Risk 23

RBC Dominion Securities Coronavirus – watch for deceleration 24

RBC Dominion Securities Coronavirus – Why does it matter? 25