At the time of writing this article, we are on day 37 of province-wide closures in Ontario and similar time frames for the rest of our great nation of Canada. About 10 days prior to this, all of our schools were temporarily closed on March 14th, 2020 (which would bring that total to 47 days). While it may feel like day 370 (or 470), it has only been 37 days since all non-essential businesses were closed on March 24th, 2020. Yet, the lasting impact may be felt for years to come, with real-world changes coming into our lives. Read more
This has been one of the worst months in history for the stock markets. The economies around the world have come to a screeching halt and the majority of people around the world have been told to stay away from work and stay away from each other to avoid the spread of COVID-19 virus. While the first 3 weeks may have been the worst in history, the 4th week was the best since the 1930s, as we rallied off the back of government stimulus.
This month brought us some interesting news from Canada, as Prime Minister Justin Trudeau won the Federal election to return for a second term as the leader of Canada. There has also been some progress in the US/China trade talks and the US Federal Reserve has decided to cut rates once again. We also came closer than ever to a BREXIT deal that eventually was shut down, but it shows there is at least some progress being made. Many of the major headlines have either concluded, are in the process of being resolved or shine a positive light towards the markets. This should give investors more predictability going forward which should drive markets higher.
Summer has now ended and we can now get back to business as usual. Once again, President Trump is on the hot seat to get impeached over a phone call with Ukrainian President Wolodymyr Zelensky. It seems like only yesterday from the last impeachment process, how quickly time flies! This time, the accusation on President Trump is of withholding foreign aid in order to gain information about Joe Biden for the upcoming election. After reading the brief, it does not appear to have too much teeth, but the testimony the following day does show a little bending of the rules from the White House, which may show some foul play of others around the President.
After a bumpy May, June brought some summer rays of hope. The global economic highlight was the G20 summit where some of the top world leaders from 19 nations and the European Union gather to discuss current topics and plans for the future. The optimism surrounding this meeting and comments from the US Federal Reserve has eased a bit of the tension in the markets and given investors a few reasons to remain calm.