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