Equities in the U.S., Canada, and globally began the quarter on a positive note but faded in August and September, resulting in negative returns. However, year-to-date, equity markets remain in positive territory. Bond markets saw U.S. and Canadian yields rise due to credit rating downgrades and inflation concerns. Both presenting cheap buying opportunities for the long-term investor.
THIRD QUARTER HIGHLIGHTS
- • S&P/TSX Composite range bound closing at 19,541.30 on Sep 29th
- • S&P 500 hits 4-month low of 4,238.63 on Sep 27th
- • Canadian dollar hits 11-month high of $0.7639 USD on July 14th
- • WTI Oil strikes 12-month high of $95.03 USD on Sep 28th
- • Bank of Canada increases overnight rate by 0.25% to 5.00% in Q3