Investors endured quite a roller coaster ride in the third quarter. Indeed, after a sharp rise for equities in the first half of the period, the decline that began at the end of August accelerated in September, thus bringing the vast majority of assets into negative territory for a third consecutive quarter.
After a period of consolidation in early June, market volatility has returned over the past few days. The S&P 500 Index hit its lowest level since January 2021 while benchmark bond yields (U.S. 10-year yields) have reached a new high of nearly 3.48%.
Just as we emerged from another wave of COVID-19 earlier in the year, the world outlook was thrown a new spanner in the form of Russia’s unprovoked invasion of Ukraine. Inflation was sitting at an uncomfortably high level even before Russia’s moves against its neighbour country.
Provincial Budget 2022-2023
Federal Budget 2022-2023
Tax Guide 2021 - Québec
2021 Highlights The underlying economic conditions remain good by historical standards and corporate-profit growth has been stellar in 2021. However, the backdrop is shifting and enthusiasm for the recovery has diminished. Moderating growth, the new Omicron virus variant and fading monetary stimulus have agitated financial markets. With demand for consumer goods bolstered by generous fiscal measures on the one hand, and a pandemic that has continued to complicate the day-to-day operations of many ports and...
Autumn Headwinds The summer of 2021 may be remembered as the moment when certain assumptions related to the COVID-19 pandemic were called into question, including the assumption that mass vaccination alone would allow a rapid return to pre-pandemic reality. The most recent data from Israel has shaken that outlook. Without being totally reversed, the economic recovery already underway in advanced economies may slow down to allow time for the authorities in place to complete their...
Whether you’re shopping around for household appliances, in the market for a new or used car, or at the supermarket picking up basic essentials, you’ve probably noticed prices have gone up. If so, you’re not alone. With prices trending higher, inflation has become a dominant narrative over recent months. On one end of the spectrum are those that believe we are moving towards a prolonged period of inflation. On the other end are those that...
Vaccinated or not? That is the question… The global economy continues to recover from the halt in operations caused by the pandemic. All signs point to a global recovery, but it will not be synchronized, as the reopening still depends largely on the ability of each country to achieve immunity. After making great strides in the fight against COVID-19, the planet now faces a new enemy: The Delta variant. In advanced economies, where vaccination campaigns...
A Hot Summer in Perspective Does a mild spring herald a hot summer for the economy? It seems so. The considerable savings surplus accumulated since the start of the pandemic highlights the potential for a strong recovery in aggregate demand in the quarters to come, provided consumer confidence is met. Judging by the latest figures on the matter, everything suggests that this will be the case. The economic heatwave that looms this summer could prove...
Business Succession Planning 101 The death of a partner or major stockholder in a business can have devastating effects on both the business and the deceased partner’s surviving family. The business is concerned with gaining control of the deceased partner’s interest at a fair price so that it can continue operations without interference from the surviving family members. The family members are most concerned with receiving as much money as possible for their interest in...