2017 Quarterly Review

Third Quarter Review

On September 7, Tim Shuffelt of the Globe & Mail wrote an article titled “The economy is roaring. Why isn’t my portfolio?” He pointed out the lack of synchronicity between Canadian equity performance and economic performance. While the Canadian economy continues to surpass the most optimistic forecasts, equities for the most part have stood by yawning. Since the beginning of 2017 the Canadian stock market has increased 2.3%, a paltry advance compared to most other major markets with less impressive GDP growth.

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First Quarter Review

Statistics released at the end of the first quarter showed that the Canadian economy expanded at a stunning rate of 0.6% in January, the strongest one month result since 2011. The strength was broadly based with manufacturing, construction, mining and energy all showing impressive advances. To March 31, Canadian stocks have risen 1.7%.Oil prices have dropped 5.8% in 2017 with crude oil closing out the quarter at US$50.60 per barrel.

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