The markets may have been boring so far this summer however it has been anything but that for our local office.  We remain displaced due to the building still being potentially renovated when insurance gets settled. How long that may take is anyone’s guess but our team continues to look after the financial needs of all of you and we appreciate your patience and understanding while we deal with this.

In regards to the portfolios and the markets it has been a good summer so far. Headlines continue to cause a stir day to day but it seems that tariffs in the US economy has not shown huge inflation and corporation profits remain strong. AI and cryptocurrency companies may have a little froth built up in them and we could potentially see a sell off in this area which will be good for the positions we own. Canada has been quiet and we appear to be out of Trump’s current target as his focus has been to Ukraine and Russia. I do feel behind the scenes that we are progressing with trade deals or we would have heard different. No news may be good news for Canada. I continue to reduce our oil exposure as the pressure for oil to go down remains strong and I do not see this changing anytime soon. Our economy is not as strong as the US but if we do get a trade deal it will definitely remove a lot of Canadian corporation uncertainty and be a nice tailwind into year end. The bank earnings at the end of this month will give us some better insight and I will be listening closely.

Our portfolios continue to stay with our themes of data centers, cybersecurity, power and housing and lately I have been building positions in health care as this area has been completely tossed aside and it appears to be coming to life lately. I remain with a good amount of funds on the sidelines as there is no rush to jump in with both feet into this market as it still is a little expensive and I will use any volatility to add to our above themes.

Have a great day and I will keep you posted on all of our happenings as they develop.