Bi-Weekly Client Letter - November 14, 2025

 November 14, 2025 |Beth Arseneau
The market backdrop appears incrementally constructive, with the U.S. government shutdown now behind us and a strong earnings season bolstering equity market sentiment. We discuss these developments along with some thoughts on the Canadian federal budget...
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The Fed raises the bar for lower rates

 October 31, 2025 |Thomas Garretson, CFA

Despite a second consecutive rate cut, a hawkish turn from the Fed supports our view that it’s on hold until at least 2026. While that may have previously caused market turbulence, investors seem content with the idea the Fed has already done enough.

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Bi-Weekly Client Letter - October 31, 2025

 October 31, 2025 |Beth Arseneau
Approaching the one-month point of the U.S. federal government shutdown, the Federal Reserve (Fed) has been forced to make an interest rate decision with only partial visibility into the economy. Meanwhile, signs of weakness in pockets of the Canadian...
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AI’s big leaps in 2025

 October 03, 2025 |Frédérique Carrier

AI is seldom out of the headlines in 2025, with defining developments coming one after another. We look at where AI is today and explain how its promise is matched against technological, economic, and geopolitical challenges.

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Tech steals the Q2 earnings show

Tech steals the Q2 earnings show

 August 11, 2025 |Kelly Bogdanova

There are more positive than negative aspects of the Q2 S&P 500 earnings season. But there are some nuances within the Information Technology sector data that we think call for restraint.

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Bi-Weekly Client Letter: March 7, 2025

 March 07, 2025 |Beth Arseneau
Believe it or not, but we are only in the month of March. Yet, it has been quite the year already given the policy shifts and turns undertaken by the U.S. administration. While many people, including ourselves, are “tariff-ed” out at this point, we discuss...
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January Newsletter 2025

 January 17, 2025 |Beth Arseneau
An exclusive newsletter for our clients and friends | January 17th 2025 Private Investment Management 2025 Market Outlook and Political Influence I write this market update and outlook with the intention of hopefully answering the recurring question of...
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BoC cuts by another 50 bps but with a slightly hawkish tone

 December 18, 2024 |Beth Arseneau
BoC cuts by another 50 bps but with a slightly hawkish tone. The BoC announced a second consecutive 50 bp rate cut in December, bringing total easing for the year to 175 bps—significantly more than other G7 central banks (see Exhibit 1). As recently as...
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Bi-Weekly Client Letter 2024-12-13

 December 18, 2024 |Beth Arseneau
A continued decline in inflationary pressures, combined with ongoing signs of a cooling Canadian economy, recently prompted the Bank of Canada (BoC) to cut interest rates for the fifth consecutive time. In the U.S., the Federal Reserve is also expected...
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Bi-weekly Client Letter 2024-11-01

 November 01, 2024 |Elizabeth Arseneau
Global equity markets have drifted lower recently, with North American equity markets retreating from highs. In the U.S., central bank policy easing is expected to continue, but investors have tempered their expectations for how quickly rates will fall...
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