The Globe and Mail reports in its Friday, July 11, edition that CIBC analyst Ian de Verteuil believes dividend-paying sectors have significant growth potential due to anticipated investments from money market funds and GICs. The Globe's Scott Barlow writes that Mr. de Verteuil,in his latest report, noted that while utilities have matched the S&P/TSX Composite Index in the past year, pipelines, insurance and bank stocks have outperformed. He expects this trend to continue and anticipates that more income-generating sectors like REITs and telcos will also benefit. Between December, 2021, and October, 2023, the Government of Canada three-month T-bill yield rose from near zero to over 5 per cent, prompting higher GIC and money market yields. However, short-term yields have since halved, making these options less appealing. Mr. de Verteuil estimates that $100-billion in GICs are repriced quarterly, with a significant portion likely shifting toward equities rather than fixed income. Mr. de Verteuil says in a note, "Certainly banks, insurers and pipelines will continue to benefit, but we would expect the 'yield trade' to broaden out further to include utilities, REITs and communications which have not done as well."