Market Commentary

Market Commentary – Fourth Quarter 2018

The fourth quarter of 2018 witnessed a dramatic correction across all markets with most stock indices experiencing near double-digit declines for the quarter. This was the first major annual correction in the decade-long expansion of the markets since the Great Financial Crisis in 2008. Global economic activity weakened in most regions except the U.S. Several […]

Market Commentary – Third Quarter 2018

Global markets delivered mixed returns in the third quarter of 2018 with the U.S. market supported by strong economic growth outperforming other major markets. Canadian stock and bond markets and emerging market stocks all had negative returns for the quarter. Concerns still remain regarding synchronized central bank policy tightening, rising protectionism, trade disputes, high global […]

Market Commentary – Second Quarter 2018

The second quarter of 2018 was very positive, although somewhat more volatile, for stock markets in Canada and the U.S. Strong economic performance, rising commodity prices, especially oil, low interest rates, tax cuts in the U.S. and strong growth in corporate earnings were all positives for the markets. In Canada, however, concerns still remain around […]

Market Commentary – First Quarter 2018

The first quarter of 2018 was marked by increased volatility and a number of factors, both positive and negative, that influenced investors’ perception of the markets going forward. During the first quarter there were 14 days when global stock markets moved by over 1% (i.e. up and down) compared to only three days in all […]

Market Commentary – Fourth Quarter 2017

The global economy continued to improve in 2017 in both the developed and emerging markets. Economic activity and corporate earnings have both had positive results which led to very strong stock market returns in most countries. Low interest rates and accommodative monetary policy have all provided support for continued global economic expansion. In Canada, concerns […]

Market Commentary – Third Quarter 2017

In 2017, the global economy continues to perform reasonably well so far in both developed and emerging markets. Economic activity and corporate earnings have both had improved results which has helped move stock markets higher. Central banks have been responding to the improved economic performance with the Bank of Canada raising interest rates twice in […]

Market Commentary – Second Quarter 2017

So far, the global economy has generally been improving in 2017 with this growth broadening across more countries. A number of countries are now considering moving away from their historically low interest rates, which were put in place to encourage more economic growth. The Canadian economy continued to be fairly strong in the second quarter […]

Market Commentary – First Quarter 2017

Most foreign stock markets had a very strong first quarter in 2017 and witnessed very low price volatility. Trump’s pro-growth policies and somewhat more positive economic data were factors that helped support the rise in these markets. There are still many lingering uncertainties among investors including; the implementation of Trump’s policies, Brexit negotiations, European elections, […]

Market Commentary – Fourth Quarter 2016

The equity markets had another strong quarter in the fourth quarter of 2016, reflecting more positive reports on potential improvements in many developed countries worldwide. The surprise election of Donald Trump also helped equity markets as many felt that his pro-business stance would be beneficial for the markets. The U.S. Federal Reserve increased interest rates […]

Market Commentary – Third Quarter 2016

The equity markets had a strong third quarter as the surprise Brexit vote result and other market concerns had a less apparent impact in the quarter. Monetary stimulus in many regions was still a catalyst for supporting the equity markets. Some countries, like Japan, were also contemplating fiscal stimulus to help support their slow economic […]