The Fog is Starting to Clear
The Fog is Starting to Clear
Questions about the direction of the economy, path of interest rates, impact of technological advances, political leadership, government policy, international relations and trade, and consumer confidence have converged recently and driven market volatility higher. While capital markets and uncertainty will always be constant companions, we are optimistic that some of the fog should start to […]
The Interest Rate Cut Mirage
The Interest Rate Cut Mirage
For many months now, the prospect of lower interest rates has been shimmering like a mirage on the economic highway. And as mirages work, the closer we get to an interest rate inflection point, the timeline gets pushed further into the future. The seeming inability of high interest rates to crush inflation and slow the […]
Canadian Federal Budget – Capital Gains Inclusion Rate
Highlights from the 2024 Federal Budget
The 2024 Federal Budget, tabled on April 16, 2024, provides a mix of expected measures and a few surprises.
Waiting for the breadth to rise
Inflationary trends are receding, the economy remains resilient, and interest rates are expected to decline later this year. Historically, these “Goldilocks” conditions have been ideal for capital markets. The S&P 500 Index’s 4.7% year-to-date (YTD) advance (as at February 21), on top of a strong 2023, reflects this positive outlook. However, as occurred during parts […]
Waiting for the breadth to rise
Higher for [not much] longer
Higher for [not much] longer
Volatility in a capital market setting is a characteristic traditionally associated with the equity market. In contrast, bond market volatility has historically been benign. This year, however, bond market volatility has risen to the highest since the great financial crisis of 2008-2009 (as measured by the Bank of America MOVE Index). Even though the U.S. […]