Michael's Blog

The European Union’s 27 member states set their trade policy is in unison. The economic impact of U.S. tariffs will depend on many factors. Let’s examine how the implications of rapidly changing U.S. trade policies and explore how the EU may respond....

What matters more for the market, Washington policy or corporate profits? Washington will capture much press this year, with policy developments likely generating volatility. It is earnings trends however, that will determine the U.S. equity market’s...

The old line is that the cure for high prices is high prices. Economics are rife with such self-correcting mechanisms. Today we’ll examine how exactly this is playing out in the relationship between the U.S. budget deficit and longer-term interest rates...

Global central banks have offered something for everyone: The Bank of Japan continued to raise interest rates. The Banks of Canada and Europe both pressed forth with rate cuts. The Federal Reserve stood pat at this week. The divergence in policy paths...

The last five years have felt like a blur. From global lockdowns, government stimulus, green initiatives, 40-year highs in inflation, rising interest rates, , growing geopolitical uncertainties, and the rise of artificial intelligence (AI), along with...

A number of events are likely to occur in Q1 2025 that could be well received by equity markets if their outcomes are better than anticipated. Let’s examine in greater detail: U.S. tariffs: Threat or Reality ? Tariffs threatened by U.S. President-elect...

Good Morning & Happy New Year ! We are happy to be back. I hope that you had a great holiday season with loved ones. Given today’s strong employment data in both Canada & The U.S., let’s highlight 5 reasons why equities capped off a banner year in 2024...

The Fed’s decision to cut interest rates by 25 basis points (bps) on Dec. 18 was hardly a surprise. The move was predicted by almost 90 % of economists surveyed by Bloomberg and was fully consistent with interest rate futures pricing ahead of the decision...

Higher productivity has driven the U.S. economy ahead of others in recent years. This has forced other nations to meaningfully raise the stakes in the global race to harness emergent technologies such as Generative Artificial Intelligence (GenAI). Productivity...