Happy Friday from BMWM!

June is around the corner which means the days will begin to get hotter. As you enjoy what nature has to offer be sure to drink lots of water, wear sunscreen, but more importantly have fun!

This week in the markets we have seen some of the key banks including Bank of Nova Scotia, Royal Bank, CIBC, and Bank of Montreal report their Q2 earnings. Notably, all but one of these banks reported loan losses and have also added provisions for future loan losses. Looking at the week ahead, earnings reports should be quiet on the Canadian front. However, there are growing expectations for the Bank of Canada (BoC) to begin lowering rates this summer following their policy discussion meeting scheduled for June 5th. In relation to the Canadian economy, we have seen the Consumer Price Index (CPI) for the month of April fall to 2.7% from the 3.4% at the end of 2023. This information is further expanded on in the biweekly client letter attached below.

The Current Account (click here to read) covers Donald Trump being found guilty on all charges, Canadians moving to the United States, Stellantis developing a $25,000 USD Jeep EV, and start-up companies in the USA and UK offering night nannies as a work perk.

Have a fun and relaxing weekend,

 

Brenda, Betina, Taylor, Matty, and Jake