Stocks have regained some of their lost ground since the correction in February, with Canada and the U.S. seeing low, but positive, market returns year-to-date. Yields were up in both countries thanks to rate hikes, and oil continued its upward momentum. Deteriorating trade relations have, however, led to a weaker loonie which is down 4.3% year-to-date. Despite concerns over a trade war, the price of gold is actually down since 2017, suggesting that market fears have yet to trigger a migration to safe haven investments. Read more in Investment Perspectives.

 

MARKETS QTR-END

29-Jun-18

YR-END

31-Dec-17

CHANGE THIS YEAR
S&P/TSX Composite 16,278 16,209 0.4%
S&P 500 2,718 2,674 1.7%
EAFE 1,959 2,051 -4.5%
GoC 10-Year 2.17% 2.04% 13 bps
US Gov 10-Year 2.85% 2.40% 45 bps
CAD$ / US$ 0.761 0.795 -4.3%
WTIC Oil $74.15 $60.42 22.7%
Gold $1,251.13 $1,303.46 -4.0%

 Returns are based on price change only, and exclude dividends.  Foreign indices are in USD.

 

Source: National Bank Financial, QUANT Monitor as of June 29, 2018