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One hundred years later, we continue to see the effects of the organization founded in January 1920 which we now know as the United Nations.
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…
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.
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.
Investors who were expecting renewed exuberance in the markets after the Federal Reserve cut interest rates on July 31st would have been disappointed given the negative monthly return on the S&P 500.