Market Commentary & Research
Pandora’s Box
The financial crisis (GFC) created many dislocations in the US economy and beyond - as you can see in the chart below ultra-loose monetary support was lent to the economy for well over 5 years. Not only did the US Federal Reserve keep rates low, but they continued to expand their balance sheet by buying government and mortgage backed securities. In fact, the Fed only began to shrink its balance sheet in 2018, a full decade after the crisis. The pandemic’s impacts have been far more reaching than the credit crisis. As such, the prospects for extraordinary measures remaining in place, not only in the US but in Canada, seems to be a reasonable assumption.
Read more about Pandora’s BoxAnother Solid Quarter
The third quarter ended on a sour note as September lived up to its reputation of being a difficult month, slipping 3.5% to give up some gains made in the prior months. Nonetheless, the quarter finished in the black, building on the strong second quarter. Throughout the period, headlines were dominated by uncertainties about the timing of economic reopening, rising COVID-19 case counts, flaring tensions between the US and China, US social unrest and inequalities, and policy uncertainty surrounding the extension of pandemic relief benefits. However, markets managed to look past these concerns and were driven by the usual suspects: monetary and fiscal stimulus, vaccine progress/hopes, better-than-expected corporate quarterly results and economic data that surprised to the upside.
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Market Commentary & Research
Mission Accomplished!
US markets have completed a historic comeback this week. After repeatedly kissing its record high close, the S&P 500 broke above 3,393 completing an astonishing turn around. The path of least resistance over the past months has been a move higher, so it seemed inevitable that the index would eventually achieve new heights and join the NASDAQ which crossed into record territory 71 days ago.
Read More about Mission Accomplished!Raymond James Trust (Canada) Launched After Acquisition
Raymond James Ltd., the Canadian arm of North American investment dealer Raymond James Financial, Inc. (NYSE: RJF), today announced it has completed the acquisition of Oak Trust Company, a privately held, federally regulated trust company based in London, Ontario. Following regulatory approval, the new division will be named Raymond James Trust (Canada).
Read More about Raymond James Trust (Canada) Launched After AcquisitionRecent News
Raymond James Strengthens Its Canadian Real Estate Sector Coverage: Brad Sturges Joins Canadian Research Team
TORONTO – Raymond James Ltd., the Canadian arm of North American investment dealer Raymond James Financial Inc., today announced that Brad Sturges, CFA joins its Canadian Equity Research team on Monday August 17 as Managing Director, Equity Research Analyst, covering the Canadian REIT/REOC sector.
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