Market Commentary September 2012
As was widely expected, central banks in the U.S. and Europe stepped up to the plate announcing aggressive bond buying programs to inject much needed liquidity into the economies in an effort to spur economic growth. Markets reacted positively with all markets showing gains in September. Thanks to this rally, all markets, except for Japan finished the third quarter in positive territory.
Read MoreMarket Commentary – August 2012
Those who adhered to the old adage of selling in May and going away for the summer may have been sorry that they did. Global equity markets were again higher in August, their third month in a row of gains. This time around, it was Canadian equities leading the way higher, as our three main sectors, financials, energy, and materials, all enjoyed decent gains. The S&P/TSX Composite rose more...
Read MoreMarket Commentary July 2012
Global markets got a boost following the July 26 comments made by the European Central Bank’s president Mario Draghi. In his remarks, Mr. Draghi stated that the ECB would “do whatever it takes” to ensure that the Euro remained intact. Investors took this as a sign that the ECB would take immediate simulative action in an effort to shore up the European economies, bidding stock prices higher....
Read MoreMarket Commentary June 2012
After a relatively tame first-quarter, volatility returned to the global equity markets with a vengeance, whipsawing stocks with a ferocity that was reminiscent of 2008. Despite a modest rally in June, the S&P/TSX Composite Index still lost 5.67% on the quarter. Global markets seemed to hold up a little better, with the S&P 500 shedding 1.0% and the MSCI EAFE Index dropping 5.0% during the quarter. Not surprisingly, fixed income fared well, gaining 2.2% as investors flocked to bonds on their safe haven appeal.
Read MoreMarket Commentary May 2012
Whoever said that April was the cruelest month likely didn’t have any money invested in the global equity markets in May. Equity markets were hit particularly hard, with the MSCI EAFE Index dropping by more than 7% during the month. The S&P 500 fell by 6% in U.S. dollar terms, while closer to home, the S&P/TSX Composite Index dropped by 6.1%.
Read MoreMarket Commentary – March 2012
For the past year, market sentiment has been dominated largely by the debt crisis that continues to boil over in Europe, causing fear and panic among investors. In the first quarter of 2012, this situation was merely simmering, allowing investors to focus on the economic recovery that appears to be well underway in North America. Sentiment was buoyed by encouraging data in the U.S. showing that...
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