Despite going through a pandemic and a tumultuous US election, the S&P 500 continued upwards to hit new highs while other markets (including our own) ended the year positive. Bond yields fell in Canada and the US while the loonie appreciated amid US inflation fears. Oil, while still meaningfully down for the year, has started to recover as gold has fallen marginally from its recently-hit all time high. Read more in Investment Perspectives.

MARKETS YR-END
31-Dec-20
YR-END
31-Dec-19
CHANGE
THIS YEAR
S&P/TSX Composite
17,433 17,063 2.2%
S&P 500
3,756 3,231 16.3%
EAFE
2,148 2,037 5.4%
GoC 10-Year
0.67% 1.70% -103bps
US Gov 10-Year
0.93% 1.92% -99bps
CAD$ / US$
0.785 0.770 1.9%
WTIC Oil
$48.52 $61.06 -20.5%
Gold
$1,897.77 $1,520.50 24.8%

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

Source: National Bank Financial, QUANT Monitor as of December 31, 2020