Blog

North American equity markets continue to push to record highs, bolstered by a promising start to the U.S. third-quarter earnings season.

The U.S. Federal Reserve cut interest rates this past week, joining many other major developed central banks who have started to reduce interest rates in recent months.

A continued decline in inflationary pressures, coupled with ongoing signs of a cooling Canadian economy, prompted the Bank of Canada (BoC) to make its third consecutive interest rate cut this week.

Global markets moved higher over the past couple of weeks, with the Canadian equity market rebounding to new highs and U.S. equities nearing their mid-July peak.

Global equity markets have recently retraced some of their year-to-date gains, while government bond yields have fallen.

The Bank of Canada cut interest rates for the second consecutive time. Meanwhile, global equities have been weaker

One notable development was the Canadian inflation report for May, which was higher than expected for the first time this year.