The Globe and Mail mulls whether the rally in non-commodity stocks will last much longer in its Wednesday edition. The Globe's Tim Kiladze writes that over the last two years Canadian investors have fled commodities and piled into utilities, telecoms, retailers and consumer staples companies. Since September, 2014, shares of Metro have jumped 92 per cent, Dollarama is up 93 per cent and BCE popped 23 per cent. The shift toward companies with more stable earnings lit a fire under Canadian initial public offerings such as Cara Operations, Spin Master and Hydro One. The market volatility since Britain voted to leave the European Union gives nervous investors even more reason to figure out where else they can put their money. RBC analyst Matt Barasch says, "If we run our valuation work on utilities, consumer staples [and] to a lesser extent telecom -- the places that folks have been looking to hide -- there's no doubt that all of these sectors are at the very high end of their historical valuation bands." The Globe says investors need to be cautious and not blindly buy into rallying sectors. The Globe sees an emerging opportunity in real estate investment trusts, which have roared back to life this year.