Quarterly Commentary

During the last few months of 2023, financial markets performed very well because of the expectations that interest rate cuts would soon be upon us.

Interest rates are currently at their highest levels since 2007.

The first six months of the year were stronger for the stock markets, and the economy, than many economists had expected.

Up until a few months ago, most investors had not heard of Silicon Valley Bank (SVB).

2022 was a very challenging year. Stock, Fixed Income, and Real Estate markets were all down considerably.

Over the past several months, in an effort to reduce inflation, central banks around the world have made several super-sized interest rate increases.

Over the past many months, as we are all aware, inflation has continued to rise. Accordingly, central banks have raised interest rates multiple times and will likely continue to do so as the year progresses.

Interest rates have begun their climb. In March 2022, Canada and the US increased interest rates for the first time since the pandemic began.

Interest rates will begin rising in 2022. The number and frequency of interest rate increases will likely have a large effect on the economy throughout the year.