Whether assisted by a Santa Clause Rally or the announcement of a Phase 1 trade deal, the S&P 500 finished 2019 up 30% (total return in local currency), an impressive feat for a “late cycle” market. The annual returns were spurred on by low…
Market and Investment Insights
The Month of Mergers and Quarterly Economic Outlook. The Canadian and U.S. economies continue to show resilience as reported this month with Gross Domestic Product (GDP) growing by 1.3% and 1.9%, respectively.
The Bank of Canada announced its intent to leave benchmark interest rates unchanged. This decision was initiated on the basis that the Bank is forecasting a slowing of GDP growth to 1.6% in 2020.
CrossPoint Financial brings to you the third quarter of 2019 portfolio review. We trust you find this type of communication helpful. It’s just one more way we try to keep you up to date on the status of markets and our portfolios.
Canadian markets continued to show resilience to a global slowdown as the S&P/TSX hit a new record high. At the high, the index was within striking distance of 17,000 points, nearing a threshold that was unexpected at such a late stage in the business cycle.