Guiding you along your financial journey
Despite all the headlines reminding us that September is historically the worst month for the stock markets, most were positive around the world. The Canadian government announced more changes that will affect insured mortgages and all future property sales under the principal residence exemption will have to be reported to CRA.
Stock and bond markets were subdued, as is typical for August. The Canadian economy posted its worst quarter since the financial crisis, meaning that interest rates in Canada are unlikely to change any time soon. Meanwhile in Europe and Japan, US investors are turning negative yielding bonds into money makers.
Stock markets around the world shrugged off Brexit and posted strong gains in July. The B.C. government surprised many with a 15% additional property transfer tax on foreign buyers in Greater Vancouver.
Voters in the UK put stock markets into a bit of a tumble after they narrowly voted to leave the EU. North American stock markets fared better and recovered their losses by the end of the month. The biggest loser was the British Pound which hit a 31 year low just after the vote and has continued to drop.
Stock markets took a breather in May, as did the Canadian Dollar, while real estate in Canada’s major cities did not. Oil continued to rise, briefly hitting US $50 per barrel.
Oil rose sharply in April, helping the Canadian Dollar rise to levels not seen in almost a year. Canadian stocks were also helped by oil prices, particularly the S&P/TSX Venture index which had its best month ever.
Stock markets around the world rose in March with Canada leading the way. The Canadian dollar had another strong month and the new federal government revealed their first budget with a headline grabbing deficit.
Stock markets seemed to stabilize in February, giving some comfort to investors after a rocky few months. The Canadian dollar retreated quickly from its lows of 1.45 to the USD that were reached in the middle of January, while oil recovered to the mid $30 range.