Blog

U.S. government borrowing costs on longer-maturity debt have risen more quickly than on shorter-maturity debt since so-called reciprocal tariffs were announced. We discuss what drove that reaction and why the difference is likely to persist.

Questions regarding the Federal Reserve’s price stability and maximum employment mandates abound. We look at what investors should know at a time when there is a lack of clarity regarding the central bank’s next moves.

Running up debts to buy foreign goods is unsustainable in the long term. Identifying the problem is simple, but we see no easy or quick escape for the U.S. from the imbalances built up over the last four decades.

The Markets The TSX is down 0.2% for April and up 0.6% year to date. The S&P500 is down 0.9% for April and down 5.5% year to date. The NASDAQ is down 0.8% for April and down 9.6% year to date. I am attaching our Global Insight Weekly dated May 1, 2025...

The Markets (as of close March 28, 2025) The TSX is down 2.5% in March and up 0.1% year to date. The S&P500 is down 6.3% in March and down 5.1% year to date. The NASDAQ is down 8.1% and down 10.3% year to date. I have attached our latest article on Tariffs;...

The Bank of Canada lowered its benchmark interest rate again in March, this time to 2.75% from 3%.

Although trade policies are evolving and government responses remain uncertain, here is a summary of what we know.

The U.S. administration has implemented blanket tariffs on Canada and Mexico after a 30-day reprieve with 25% on all imports except 10% on Canadian energy. An additional 10% tariff on China is also planned. Canada has been hit with its largest trade shock...

The Markets The TSX is down 1.5% in February and up 1.7% year to date. The S&P500 is down 0.9% in February and up 1.7% year to date. The NASDAQ is down -1.7% and flat year to date. We have published an article entitled U.S. Tariff policy in Flux. And...