Video Market Update – November 2022

Happy November! Please take a moment to view my most recent video with commentary on the current market environment.

 

 

 

 

 

 

 

 

 

Economic Impact – Finally, a break for inflation

Please take a moment as Martin Gagnon, Executive Vice-President, Wealth Management, and Stéfane Marion, Chief Economist and Strategist at National Bank sit down to talk about the global economic situation and its impact on the Canadian market.

Here is a brief summary of the content:

  • Global economic contraction – not global recession.
  • Europe is experiencing contraction (mostly due to energy) which will be more than offset by growth in China.
  • US has experienced consecutive quarters of negative GDP growth (Textbook definition of recession).
  • Stéfane is less concerned about this because a primary cause is inventory accumulation due to expected supply issues. Moving forward, as inventories decrease to natural levels, GDP can increase without inflationary pressures.
  • Also, the old school definition of recession is no longer used by the National Bureau of Economic Research. It’s too simplistic.

Housing Market:

  • Inflation is decelerating and NB is predicting 3% rates and not 4%+
  • 67% of variable-rate mortgages have fixed payments. Reduces impact on cash flow.  (VRM are 1/3 of the mortgage market).
  • 35% of Canadian have a mortgage. Very low.

We are committed to remaining present and will continue to strive to keep our clients informed and up to date.

 

Best regards, 

 

National Bank Financial

Rob Hunter
Senior Wealth Advisor

Market Update – June 2022

The U.S. stock market has outperformed the Canadian for years, largely on the strength of the innovative technology sector, which is largely responsible for market growth over the previous three years.  That has changed since January, when the Canadian market started to strongly outperform the U.S. in response to rising inflation and interest rates…..

Best,

National Bank Financial

Rob Hunter
Senior Wealth Advisor

Market Update – May 2022

Behavioural Economics.

 One reason why this sell-off may seem bothersome:

If you started investing (or accumulated most of your wealth) after 2009 you have never experienced 5 down weeks in a row: a semi-regular experience of the past.  We tend to place too much emphasis on experiences that are freshest in our memory rather than on historical reality….

Best,

National Bank Financial

Rob Hunter
Senior Wealth Advisor

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