On balance, we continue to recommend an overweight allocation to equities relative to fixed income, with major central banks recently confirming our optimistic view of current economic conditions. Meanwhile, trade and political risks highlight the importance of diversification and tactical duration management within fixed income portfolios. A hawkish Fed and a European Central Bank (ECB) approaching the end of its accommodative monetary policy era support our view that recession risks are low at the moment, warranting our equity overweight recommendation.
Nova Scotia and the Annapolis Valley have witnessed an explosion of craft breweries, cideries, and distilleries in the last few years. Not unlike wine, our craft beers reflect the terroir and heritage of our region.
There are currently approximately 38 craft breweries in the province but, like the product, that number is fluid and constantly changing as new licences are issued. Put another way, the craft beer business in our neck of the woods is on a roll.
Province-wide the craft breweries range from small, one-person operations to larger operations like Propeller1 and Garrison2. Occupying the middle ground, is a wide and expanding range of breweries and brewpubs punctuating the province and constituting an industry that scarcely existed 20 years ago.