- Jan 10, 2020
EQUITIES COMMENT: "It Was a Very Good Year"
Global stocks surged over 20% in 2019. The TSX Composite was ahead 23% including dividends. In Canadian dollar terms, the S&P 500 clocked in a gain of 25% and EAFE (Europe, Asia and the Far East) returned 17%. Stocks demonstrated resilience against a background of a synchronized global slowdown in manufacturing and trade. This weakness had a lot to do with U.S. China trade negotiations and increased tariffs on Chinese goods. Actions by central bankers saved the day. Three
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- Jan 7, 2020
ECONOMIC & FIXED INCOME COMMENT: " Deja vu.... Is it 2020 or 2019?"
2019 was the year of political uncertainty. Consequently, global GDP suffered with a series of downgrades. Global GDP is projected to grow at 3% for 2019, the weakest pace in a decade. The main culprits were the US-China trade war, Brexit and USMCA. To support their economies several central bank policymakers responded by providing further monetary stimulus to preserve the decade-long expansion. Although some of the fog has cleared with respect to the political front much is
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