Happy Friday from BMWM!

The Victoria Day long weekend is finally here! The weather is slowly shifting from cold and wet to sunny and dry, so we hope you all have a fun and safe long weekend.

This week, the Dow Jones Industrial Average hit a new high, reflecting increased investor optimism and strong performance in key sectors. Over the most recent 12 months, Canadian banks have experienced moderate growth and faced several challenges. The sector has bounced back from its negative performance ending in August 2023 to an overall increase of 5.9%. Royal Bank led the gains in this sector. Despite the difficult economic environment, including inflation and rising interest rates, banks have managed to maintain strong balance sheets and low valuations. We are keeping an eye on this sector for buying opportunities and recently increased our positions slightly.

The Current Account (click here to read) covers the Dow briefly eclipsing 40,000 points for the first time in over three years, buyers eyeing a rare advantage in Canada’s housing market, China and Russia pledging to deepen military ties, and olive oil prices rising 140% in Canada over the past three years.

 

Have a lovely long weekend,

Brenda, Betina, Taylor, Matty, and Jacob