Last week, the Bank of Canada increased interest rates by 100 basis points.
The U.S., June CPI came in at a record 9.1% YoY.
These numbers continue to imply that central banks need to be aggressive with their future rate hikes, which could arguably put the economy in a recession.
We continue to focus on defensive sector stocks, namely healthcare.
This week’s stock pick is CVS health
It trades on NYSE: CVS, the current price is US$96.18.
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