Reflections & Resources

Just prior to the start of May, the Bank of Canada, the U.S. Federal Reserve, and the European Central Bank all maintained their policy interest rates as inflationary pressures associated with higher energy prices continued to emerge.

Market performance in April occurred despite ongoing geopolitical uncertainty and elevated investor concerns surrounding global events. North American equity indexes rose between 3.5 percent and 15 percent during the month, bringing major U.S. indexes back into positive territory on a year-to-date basis. The TSX and NASDAQ both posted year-to-date gains of approximately 7.1 percent.

Market movements in March were heavily influenced by geopolitical developments following military conflict involving the United States and Iran that began at the end of February. Military action began prior to the opening of trading on March 2 and continued through the month. During the first three weeks of March, North American equity indexes declined between approximately 4.5 and 9 per cent.

Markets reacted quickly at the beginning of March. Gold and oil prices rose sharply on the first trading day of the month. North American equity markets were relatively flat on March 2 before declining at the open the following day.

As we move into spring 2026, it’s a great time to revisit your financial plan and ensure your portfolio is positioned for today’s shifting markets.

Explore how global changes may impact your investments, get timely tax‑season tips, and learn strategies to help manage rising costs. Plus, find smart estate‑planning ideas to help protect and preserve your wealth.

Let’s make this spring a season of clarity, confidence, and proactive financial planning—so you’re well prepared for whatever comes next.

February ended with reports of coordinated military strikes by the United States and Israel targeting Iranian leadership and nuclear-related infrastructure. Iran subsequently responded with attacks on U.S. and Israeli interests across the region.

Markets reacted quickly at the beginning of March. Gold and oil prices rose sharply on the first trading day of the month. North American equity markets were relatively flat on March 2 before declining at the open the following day.