There were some welcome developments last week. More specifically, the Canadian banks reported results that allowed investors to breathe a collective sigh of relief. Beyond the banks, equity markets rallied further, but it was the inner workings of the move that was particularly noteworthy.
In regards to the U.S market, please give a listen to the podcast “The road to recovery for the U.S economy”. Tom Porcelli, a Managing Director and Chief U.S. Economist at RBC Capital Markets, joins Janet Engels, Head of the Portfolio Advisory Group – U.S., to discuss the post-COVID-19 U.S. economic recovery. Their conversation examines the key economic data, the outlook for employment and consumption, and the effect of stimulus measures. They also explore whether negative interest rates are a possibility in the U.S.
One source of information I have become increasingly fond of is the RBC 10-Minute Take podcast series. The 10-Minute Podcast provides insights from RBC economists and market experts on events unfolding around the globe. Some of the most interesting podcasts I found from May were:
- How Maslow’s Hierarchy can explain pandemic spending featuring Irene Nattel, RBC Capital Markets’ Consumer Discretionary & Staples Analyst
“The start of the COVID crisis might forever be associated with a toilet paper shortage as people went into survival mode and stocked up on staples. Or, in the language of Maslow’s Hierarchy, people were just trying to meet their basic physiological and safety needs. But as we move up the pyramid and beyond the crisis, where (and how) we spend our money will be different from before. How will retailers adapt? And what are people buying to reach self-actualization? Irene Nattel, RBC Capital Markets’ Consumer Discretionary & Staples Analyst, shares how the crisis is changing consumer trends.”
- What’s ahead for the loonie featuring George Davis, RBC Capital Markets’ Chief Technical Strategist in Foreign Exchange Trading
“The loonie has defied expectations during the recent rout in oil markets, hitching its wagon to another driver. Move over crude, hello equities. But the road ahead still has bumps, with implications for USD/CAD foreign exchange. How will extended travel restrictions affect cross-border investments? And what could snowbird investors expect from the U.S. Fed? George Davis, Chief Technical Strategist in Foreign Exchange Trading at RBC Capital Markets, joins us with the outlook on the Canadian dollar.”
- Can business stimulus hasten the “swoosh” recovery? featuring Craig Wright, RBC’s Chief Economist
“Hopes for a V-shaped recovery – a short, sharp collapse followed by a bounce-back to pre-crisis activity – have been replaced by expectations of a “swoosh.” That is, a large drop followed by a slow incline. To bend the curve, Canadian policy makers have focused the latest round of relief on business. But how effective can these new measures be when much of the economy remains closed? Craig Wright, RBC’s Chief Economist, joins us with his outlook for the private sector and a broader recovery.”
This week’s tip comes from Alex (Pictured below in his work from home office). Our resident admin and tech guru is also quite the baker. With the pandemic there has been a sharp increase in at-home baking, and one issue many people have run into is a lack of supplies. Luckily, Alex has found an excellent article on baking substitutes you could try if you ever run into a shortage!
All the Common Baking Substitutes You’ll Ever Need to Know
Enjoy the warm weather and have a great weekend!