Fund managersWhen looking at the share price we have to think about fund managers . They are compensated on fund performance , some do work on salary but they still want the fund to perform well . Even though these funds have mandates they have lots of pressure to be concentrated in tech cause that's where the gains are. Interest rate pressure as well . You were getting almost 5% in a money market fund where SPB a couple months ago was giving you a 6.5%-7% divy . Wouldn't make sense to take the risk. With rates coming down we might see people chasing yield to supplement the cash position fund managers are looking to deploy . At the same time there is an extremely bearish view on the Canadian economy especially when 60% of mortgages renew mid to end of 2025. We are top 3 in household debt to GDP and likely people over extended themselves buying new home 2020-21. Our dollar is gonna take the brunt of it as we cut rates and the US has less urgency than we do. Take it all with a grain of salt , I'm just some guy on a Canadian equity platform and we could engineer a soft landing but I'm not beting on it .States could pull it off though