Stocks continued to retrace the 2018 fourth quarter decline and in North America, reached record highs. The TSX Composite was up 3% while the S&P 500 and MSCI EAFE (international stocks) rose 2% in Canadian dollar terms. Despite plenty of weaker economic data, stocks gained on signs of a trade “truce” between the U.S. and China as well as expectations for declines in interest rates. Statistics released from the U.S., China and Europe during the second quarter indicated a sl

The global economy has been unfolding for the most part as predicted since the first quarter- decelerating growth. The International Monetary Fund (IMF) has revised global growth downward from 3.5% to 3.3% in April for 2019. However, signs of stabilizing growth have arisen. These include: Global financial conditions easing with expectations of lower policy rates Both the European Central Bank (ECB) and U.S. Federal Reserve have reiterated their readiness to provide additional