Dec. 25, 2025 2:45 PM ETAFMC, AFSM, ARKK, AVUV, BAPR, IVOO, IVOV, IVV, IVW, IWC, IWM, IWN, IWO, IWP, IWR, IWS, IYY, QQQ, SPLV, SPMD, SPMO, SPMV, SPSM, SPUS, SPUU, SPVM, SPVU, SPXE, SPXL, SPXN, SPXS, SPXT, SPXU, SPXV, SPY, SPYD, SPYG, SPYV, SPYX, SQLV, SSO, SSPY, SVAL, SYLD, TMDV, TPHD, TPLC, TPSC, UAUG, UJAN, UMAR, UMAY, UOCT, UPRO, USMC, USMF, USVM, MAGS, AGG, GVI, GBF, BND, BIV, OVB, PAB, SCHZ, CMBS, SPAB, AGGY, NUAG, BNDC, NUBD, UITB, HTAB, FFIU, EAGG, BBAG, FLCB, HCRB, GCOR, PIFI, AVIG, BKAG, FIGB, FSEC, GTO, BOND, BYLD, IUSB, FBND, VBND, TOTL, RFCI, SYSB, IMTB, FIXD, HTRB, JCPB, EUSB, CPLB, IEI, MBB, SPTI, SPMB, VGIT, VMBS, SCHR, GOVT, GNMA, MBSD, JMBS, MTGP, FLGV, PFIX, TLT, TLH, EDV, SPTL, ZROZ, VGLT, LGOV, SCHQ, TFJL, TBJL, GOVZ, TBT, TMV, IEF, SHY, TBF, TMF, PST, TTT, BIL, TYO, UBT, UST, UTWO, VGSH, SHV, SCHO, TBX, GSY, TYD, VUSTX, GBIL, SGOV, SPTS, ITB, XHB, NAIL, HOMZ, PKB, IYR, REZ, REM, RWR, VNQ, ICF, FRI, PSR, JRE, KBWY, SCHH, MORT, REET, FREL, SRET, RSPR, XLRE, USRT, NURE, PPTY, SRVR, INDS, BBRE, NETL, RDOG, IVRA, REIT, FPRO, BMQWF, IUSPF, VNFTF, CDPYF, MNARF, VRE:CA, ZRE:CA, XRE:CA, HCRE:CA, MRG.UN:CATD Wealth5.08K FollowersCommentsSummaryWhy markets are facing uncertainty in 2026.Are market valuations too high?The role ETFs can play in bringing diversity to your portfolio.Originally published on December 11, 2025Markets have been continuing their upward momentum as inflation pressures ease and rate cuts take shape. But stretched valuations and tariff uncertainty are keeping investors on edge. Jeff Evans, Vice President, Director and Lead of Empirical Research and PM Support with TD Asset Management, discusses the current state of the markets and how ETFs can help investors diversify during periods of uncertainty.TranscriptKim Parlee: Let's start with the big picture. And this is probably one of these times-- it's always like this. There's just so many undercurrents in the market, the big picture doesn't probably properly reflect what's going on. But what do you see?Jeff Evans: So, I'd say, first of all, we've come a long way from 2022. If you just go back a couple of years ago, we had the biggest increase and the fastest increase in interest rates in 40 years, driven by the biggest increase in inflation in 40 years, driven by, arguably, the biggest monetary and fiscal stimulus ever. So there was a lot going on in 2022. The risk at the time was, can central banks bring inflation under control fast enough without breaking the economy?Lots of people worried that you'd have to keep interest rates elevated, and ultimately break the labor market and break the overall economy. The good news-- here we are two, three years later, it looks like they've mostly pulled that off. We've been able to bring inflation not all the way to 2, but into a much more comfortable level. The glide path into '26 and '27 looks like we should get back on track fairly quickly.And more importantly, we've been able to bring inflation under control without hurting the labor market-- which, historically, is very unusual. Normally, there'd be a lot more unemployment thanThis article was written byTD Wealth5.08K FollowersTD Wealth is an integral part of the TD Bank Group, which has approximately 24 million customers worldwide, 85,000 employees and CDN $1 trillion in assets on April 30, 2015. In Canada, TD Wealth services customers through: · TD Direct Investing which provides clients access to the information, tools and support that empower them to invest for themselves with confidence. · TD Wealth Private Client Group, which provides discretionary wealth management for high net worth clients and businesses. · TD Wealth Private Investment Advice provides full service brokerage for investors who want a high level of tailored advice and solutions. · TD Wealth Financial Planning develops and implements a financial plan for individual clients. At TD Wealth, whether you invest yourself or benefit from the knowledge provided by your advisor, you gain access to some of the industry's most highly regarded investment analysts, economists and market strategists.Comments