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 Update

 October 31, 2025 |Brenda Miller
Happy Friday from Brenda Miller Family Wealth! As we approach the spookiest time of the year, we hope you're enjoying the Halloween festivities and the excitement of the baseball season. Speaking of which, we're thrilled to see the Toronto Blue Jays making...
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PAG Bi-Weekly Update

 October 31, 2025 |Brenda Miller
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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BoC warns of structural economic damage from tariffs

 October 29, 2025 |Claire Fan
The Bank of Canada delivered an expected 25 basis point rate cut today, lowering the overnight rate to 2.25%—the bottom of the neutral range that would not add to or subtract from inflation pressures over time. Beyond the rate cut itself, two themes stood...
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Canadian federal budget preview

 October 27, 2025 |Cynthia Leach
A new playbook for balancing bigger government with fiscal health We believe the context and composition of government spending matter as much as the quantum. Cyclically, our outlook has Canada avoiding a recession from the current set of tariffs, but...
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Technical update: Signs of rotation support rebalancing portfolios

 October 24, 2025 |Robert Sluymer, CFA, Technical Strategist

The S&P 500 has remained impressively resilient from a technical perspective. But we think some areas of the market are bottoming, supporting our belief that investors should consider rebalancing portfolios.

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Bi-Weekly Update

 October 17, 2025 |Brenda Miller
Happy Friday from Brenda Miller Family Wealth! We sincerely hope everyone had a fun, safe, and relaxing Thanksgiving weekend. If your house is like our house, you will need a vacation after the Thanksgiving weekend. Although Brenda’s house was crazy and...
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PAG Bi-Weekly Update

 October 17, 2025 |Brenda Miller
The U.S. federal government remains shut down. While the broader economic impact has typically been modest, the absence of official economic data releases during the standoff adds a layer of uncertainty. For now, investor attention is shifting to the...
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U.S. Recession Scorecard: Stuck … with reduced visibility

 October 10, 2025 |Jim Allworth

The scorecard indicators remain mixed, including a shift in the yield curve indicator. The government shutdown has limited employment data, confirming a cautious investment approach is needed, as ongoing policy and trade shifts affect the economy.

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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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