Looking Back and Looking Forward Most every major asset class rose in 2025 – a surprise to many given some of the unsettling events that have occurred over the past year. Major global equity markets posted double-digit gains. Major fixed income categories turned in comparatively modest (but positive) returns. Nothing, however, matched the unprecedented rise …
Looking Back and Looking Forward Across the globe, it was a solid Q3 for equities. While the U.S. continues to lag other major markets on a year-to-date basis, it saw a revival in Q3 on the prospect of Fed rate cuts in the context of a still-acceptable, albeit weakening, U.S. economy. The main driver of …
Looking Back and Looking Forward If you had spent the last three months on a desert island and returned at the end of Q2, you would have thought nothing much had happened since you left. In fact, nothing could be further from the truth, as markets were extremely volatile in Q2. After a precipitous fall …
Looking Back and Looking Forward We thought it best to delay our quarterly newsletter by a couple weeks to see how events might unfold post the April 2 U.S. tariff announcement. We’re glad we did. It’s been a bit of a rollercoaster since, but things have become slightly more clear in recent days (slightly being …
Looking Back and Looking Forward With central banks around the world initiating rate-cutting cycles in 2024, it’s difficult to find a stock market that didn’t produce double-digit returns on the year. Despite this rate-cutting, North American bond markets were flat to slightly down on a price basis, but of course bonds now pay substantially more …
