The final quarter of 2023 began with low expectations as investor sentiment and consumer confidence continued to decline from the previous quarter. Both the public stock and bond markets ended October in a slump, setting the stage for a notable rebound to end the...

How do we characterize the performance of the various asset classes in 2022? Awful. In 2022, the S&P 500’s fourth largest calendar year loss since 1940, 1 a widespread decline in global equity prices, and a fixed income market correction provided one of the...

This year has presented investors with a rude awakening to the consequences of a regime change from easy money, low inflation, a relatively peaceful geopolitical environment. We have now climbed over to the other side of this fence. It’s naïve to think that the pain...

Since the start of the year, investors and consumers have been growing increasingly pessimistic about the outlook for the economy, and in the past quarter we have started to see concrete evidence that the economy is indeed slowing. U.S. retail sales, on a real or...

Both equity and fixed income markets saw significant volatility in the first quarter of 2022. Most major central banks around the world maintained their hawkish stance to tackle unsustainably high inflation. The Bank of Canada (BoC), U.S. Federal Reserve (“the Fed”),...