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At a Glance ///

  • Central banks set the tone early this year, with the Bank of Canada raising the overnight rate by 0.25% in January and the Fed doing likewise in March. The European Central Bank scaled back its quantitative easing program.

  • The Canadian stock market fell during the quarter. Factors contributing to the decline were slower economic activity, the NAFTA negotiations, the weakness of the Canadian dollar, and increased volatility.

  • Global equities ended the quarter in positive territory for Canadian investors, thanks to the depreciation of the Canadian dollar.

  • We remain confident that growth will continue for the next few quarters, reversing the negative stock market sentiment. Our portfolios continue to favour Canadian equities over bonds.