Throughout 2023 and into 2024, the technology sector has dominated equity market performance. This performance has been very narrow in scope, concentrated on a few publicly traded companies that investors... read more →
Over the past decade, the S&P 500 Index in the United States has significantly outperformed Canada’s S&P TSX Index. When measured in Canadian dollars, the S&P 500 delivered an annual... read more →
Throughout our decades in the investment business, there have been several occasions when equity markets have become focused more on concepts than fundamentals. During these phases, many investors become enthralled... read more →
Rising global interest rates are currently the most important macroeconomic factor influencing financial markets. Since bottoming out at 0.55% in July 2020, the widely followed 10-year U.S. Treasury bond yield... read more →
The first half of 2023 witnessed a reduced pace of interest rate increases and a return to positive performance in the equity markets. Both the U.S. Federal Reserve and the... read more →
Equity markets performed well during the first quarter of 2023. However, performance was narrow in scope, driven by a rebound in the technology sector which had been beaten up during... read more →
The past year proved challenging for financial markets, ending in losses for both equities and bonds. The U.S. equity market (S&P 500) declined by 18.1% (12.2% in Canadian dollar terms),... read more →
This has been a difficult year in the financial markets. Inflation continues to run at levels not seen in decades. The Russian war on Ukraine has exacerbated this scenario by... read more →
The first half of 2022 has been a particularly difficult one for both the economy and the financial markets. The massive injection of liquidity by central banks in response to... read more →
On February 24th, Russia launched a brutal and unprovoked invasion of Ukraine. Except for China and a few Russian allies, the world has condemned this attack. The Russian strategy, harkening... read more →