Market Ethos - Déjà vu: 2.0 Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Nov 26, 2024 Ok, everyone is churning out content and thoughts on market implications of four more years of Trump. And the Trump trades are bouncing all over, most modeled after the 2016 term. It’s probably not that simple – 2024 is different than 2016. One thing... Read more
Market Ethos - Bonds: Where’s the love? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Nov 26, 2024 Investors have been piling into all-equity one-ticket solutions. Call it performance chasing perhaps. These vehicles are more tilted to DIY investors as this trend is less evident across the broader market flows. But the all-equity approach may prove... Read more
Investor Strategy: November 2024 - Halloween puts a scare in markets Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Nov 06, 2024 We are not going to say ‘volatility ahead’, because we think everyone always says this and it’s market commentary filler. Instead, recession risk low, inflation still cooling, earnings growing (albeit a bit slower than before for 2025) all makes for a... Read more
Market Ethos - The hedge conundrum Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Oct 29, 2024 The USD has risen a lot lately against most currencies including the CAD. There are many economic/yield reasons for this move, with the biggest being USD strength ahead of the potential election uncertainties. Yet at 72 cents, the CAD may be getting too... Read more
Market Ethos - Elections: only certainty is uncertainty Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Oct 22, 2024 Markets have moved higher over the past couple months, with decent economic and inflation news as the tailwinds. But if history is any guide, the few weeks before a U.S. election often sees a spike in volatility. With such a close race, this may even... Read more
Market Ethos - All eyes on earnings Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Oct 17, 2024 Earnings are all that matter for markets in the long run. As we head into Q3 earnings season, attention should be focused on margins given cooling inflation (a negative for sales growth) and cooling cost inflation (a positive for margins). More importantly... Read more
Investor Strategy: Navigating the fog Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Oct 15, 2024 Anticipated volatility in September didn’t come as expected. Though markets wobbled at the beginning of the month, risk appetite and optimism came back in a hurry following the Fed jump-starting its easing cycle with a 50-bps cut mid-month. With more... Read more
Market Ethos - Will China’s adrenaline shots work? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Oct 01, 2024 The People’s Bank of China (PBOC) reduced repo rates by 20 bps, signaling similar cuts to lending, deposit rates, and existing mortgages. The PBOC also introduced several programs to facilitate stock purchases to prop up equity markets. These measures... Read more
Market Ethos - Dividends are cool again Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Sep 24, 2024 The dividend factor has been in the dumps for the past few years, and this recent catch-up is encouraging. It’s clearly not early innings, but it’s likely not late in the game, either. Valuations are still favourable, and bond yields could tick a bit... Read more
Market Ethos - Where to next? Filed Under: Investment Services | Portfolio Management | Wealth Management Published by RWL on Sep 17, 2024 Ok, we all watched this play out over the past few years: as cash yields rose, the money started flowing. And did it ever. Billions and trillions flowed into various cash vehicles from GICs, HISAs, and money market funds. Now as yields available in cash... Read more