Equity markets dipped in early April but bounced back in May. Investors were hopeful for interest rate cuts, supported by lower inflation and a positive economic outlook. In June, the Bank of Canada and the European Central Bank cut interest rates, starting a policy-easing cycle, while the US held off due to a strong labor market and persistent inflation.
SECOND QUARTER HIGHLIGHTS
- • S&P/TSX Composite hits a new all-time high of 22,555.00 on May 21st
- • S&P 500 hits a new all-time high of 5,505.53 on June 20th
- • Canadian dollar hits year-to-date low of $0.7223 USD on April 15th
- • WTI Oil range bound ending quarter at $81.84 USD
- • Bank of Canada lowered overnight rate by 0.25% to 4.75%
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