Our Latest Thinking.

You can find our thoughts on world events, trends and happenings and its pertinent impact on the economy and financial markets here.


We will share our perspective on the past, opinions on the future, and any potential plans to action against our insights.




Is this the real life? Is this just fantasy? Caught in a landslide …

The opening lyrics to Bohemian Rhapsody, as serenaded to the world by Canada’s Prime Minister in September, turned out to be a poignant snapshot of the markets over the past few months. The first half of the quarter saw the S&P/TSX climb 7.5%, and the S&P500 jump13.7%, only to have it caught in a landslide and erased by the end of the quarter. Easy come, easy go, little high, little low.

“Unprecedented” is a word that has been used frequently in financial commentary over the last couple years and unfortunately there was plenty of material to reference during the quarter. High inflation, recessionary fears, and rising interest rates (the US Federal Reserve raised its rates by a further 0.75% and the Bank of Canada upped its rate by 0.50%), all combined to make a difficult 2022 even more choppy. Added to this came the ongoing uncertainty from the war in Ukraine causing difficulties across the European political and economic landscape. In response, both bonds and stocks sold off in, well, unprecedented fashion.

We’ve come to know the tale of David & Goliath as a situation where an underdog, David, takes on an opponent that is perceived to be in a much more advantageous position, Goliath. In the first quarter this year, the world saw this narrative unfold across several areas of life.  Economically, we saw consumers battle Goliath increases in prices for goods and services.

Inflation, as we had anticipated, is not so transitory. It will drive consistent interest rate hikes for the remainder of the year. But with interest rates going up, do we foresee this tightening of monetary policy to tighten economic growth?

The world largely seems to be moving towards accepting life with COVID, understanding that full eradication of the virus seems unlikely in the near future. The vast majority have come to understand both the risks of the virus(es) and the benefits of vaccinations. In addition, people have adapted to the ongoing measures intended to curb rates of infection, which is likely to be the norm going forward.

How does this tie into the markets, and James Bond?

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