Michael's Blog

North American equity markets continue to carve out new highs, even in the face of new uncertainties. President-elect Donald Trump recently proposed significant tariff increases: 25% on imports from Canada and Mexico and an additional 10% on Chinese goods...

Good Morning, Potential changes to U.S. government policy are an increasing area of investor focus, but it can be easy to lose sight of the forest for the trees. With the incoming Trump administration and potentially new policy initiatives, let’s discuss...

Good Morning, The Fed faces a conundrum. It has cut policy rates by 75 basis points since September only to see longer-term Treasury yields and mortgage rates increase by the same degree. Today we’ll look at what may be driving this divergence and the...

In a historic comeback, Donald Trump won the presidency for a second time. Today we look at the key policies like taxes and tariffs that will shape the investment climate. There is quite a bit to unpack – so let’s get to it ! While Washington can influence...

China’s economy, faced with structural and cyclical challenges, is now growing more slowly than in its glory days. Let’s explore the monetary and fiscal measures undertaken thus far. Despite slower growth, the country should be in good stead to remain...

Today we will look to highlight the growing significance of BRICS nations, and why your portfolio will benefit from exposure to these regions of the world. Timing is fact everything. We were provided with evidence of that this week. The largest-ever BRICS...

Central banks’ inflation targets are in sight, but not all price trends have normalized. Structural price pressures suggest policymakers should remain vigilant. Inflation isn’t the headache it was two years ago, but investors should keep it in mind in...

There have been no recent changes to our recession scorecard. It is noteworthy, however, that two of the seven indicators have failed to move in the anticipated direction over the past month. Let’s examine further: U.S. Unemployment Rate The unemployment...

Myths may be important to folk tales, but they’re not helpful in finance. Today we’ll look at the facts behind some of the common myths surrounding the U.S. national debt. The U.S. government has an incomprehensible amount of debt. The number is so large—$35...