2022 Q4 Newsletter The Rear View and The Front View Happy new year, and good riddance to 2022! Yes, the past year saw the “everything bubble” finally burst. In the decade-plus prior to 2022, the combination of ultra-low manipulated rates by central banks and massive deficit spending by governments drove bubbles in multiple asset classes …
2022 Q3 Newsletter The Rear View and the Front View After an abysmal first half of 2022, both bonds and stock suffered further in Q3. In Q3, Canadian and U.S. investment-grade bond markets posted returns of -0.4% and -5.3%, respectively, while Canadian and U.S. stock markets posted returns of -2.2% and -5.3%, respectively. The table …
2022 Q2 Newsletter The Rear View and the Front View Turn out the lights, the party’s over. At least for now. After a pretty lousy first quarter, bond and stock markets fared poorly again in Q2. The table below shows performance for various asset classes in the first half of 2022: We recently read that …
2022 Q1 Newsletter The Rear View and the Front View The best performing asset class in Q1 was cash, that is unless you’re the rare investor whose only holding was the Canadian equity index, which was up on the quarter. Bond and stock markets mostly fell in Q1, as the historically inverse relationship between stocks …
2021 Q4 Newsletter Blank The Rear View and the Front View 2021 saw very strong equity markets, while bond markets were somewhat weak. In Canada, the S&P/TSX Composite Index rose 21.7% while the Canadian bond market1 fell 5.2%. In the U.S., the S&P 500 posted a 26.9% gain, while the U.S. investment grade bond market2 …
