The BIG Picture

The level of the overnight rate is still restrictive at 3.75% and the BoC in the press release hinted at future rate cuts will follow to support a return to stronger GDP growth.

North American equity markets continue to push to record highs, bolstered by a promising start to the U.S. third-quarter earnings season.

It has been a busy few weeks with several issues garnering investor attention. The U.S. jobs report has taken on more importance given the Federal Reserve’s admission that it is watching it more closely.

The Fed has finally aggressively lowered interest rates. While a steeper yield curve reflects the market’s optimism that rate cuts will shore up the economic outlook, further steepness could be a sign the Fed will cut rates deeply, likely due to a re

The U.S. Federal Reserve cut interest rates this past week, joining many other major developed central banks who have started to reduce interest rates in recent months.

A continued decline in inflationary pressures, coupled with ongoing signs of a cooling Canadian economy, prompted the Bank of Canada (BoC) to make its third consecutive interest rate cut this week.

Global markets moved higher over the past couple of weeks, with the Canadian equity market rebounding to new highs and U.S. equities nearing their mid-July peak. A

Equity markets have recently retraced some of their year-to-date gains. This market action can be attributed to a mixed earnings season, where results from several highly valued mega-cap tech companies underwhelmed relative to elevated expectations

It has been an eventful few weeks. The Bank of Canada cut interest rates for the second consecutive time. Meanwhile, global equities have been weaker, driven by a sector rotation rather than broad market weakness.