The BIG Picture

Although trade policies are evolving and government responses remain uncertain, here is a summary of what we know.

Investors need to deal with risk and uncertainty. The threat of tariffs, a surprise development in artificial intelligence, higher U.S. inflation, and a major shift in U.S. policy with respect to the war in Ukraine, among other things, are just a few

What matters more for the market, what Trumps says or plain vanilla corporate profit trends? While Washington, D.C. will likely capture a lot more business press headlines this year and policy developments could generate volatility

Tariffs can have many economic impacts, but we think investors should focus on the economic and political goals that are driving decision-making.

Global equity markets are grappling with an executive order signed by U.S. President Trump over the weekend authorizing tariffs be placed on all Canadian imports beginning Tuesday, February 4th.

Global equity markets have spent the past month adjusting to the view that the U.S. Federal Reserve may be nearing the end of its rate cutting campaign.

Happy New Year. The stock markets closed out a strong year on a quieter note as investors began to recalibrate their expectations for future interest rate cuts by the U.S. Federal Reserve. This shift in expectations led to a rise in government bond yields...

A continued decline in inflationary pressures, combined with ongoing signs of a cooling Canadian economy, recently prompted the Bank of Canada (BoC) to cut interest rates for the fifth consecutive time. In the U.S., the Federal Reserve is also expected...

The Bottom Line: As expected, the Bank of Canada (BoC) cut the overnight rate by another 50 bps to 3.25% on Wednesday, right to the top end of the BoC’s “neutral” range estimate (2.25% – 3.25%). Macklem’s opening statement made clear that with interest...