Last updated: Jan-18-2019

    
 
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1/20/2019 12:13:00 PM
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Current news, updates, and market information.


By Fund Library News Wire | Friday, January 18, 2019

By Mike Keerma

The major North American stock indices rallied again this week, buoyed by reports that China and the U.S. were negotiating trade concessions that would see China increase imports from the U.S. to bring its trade deficit with the U.S. to zero. In Canada, December’s all-items inflation rate ratcheted up to an annual 2.0% from 1.7% in November, a move largely driven by the way airfares are calculated, and one widely expected to reverse in coming months. U.S. annual inflation decelerated to 1.9% as December’s month-over-month rate fell 0.1% as energy prices declines. The calmer inflation picture in both countries suggests both the Bank of Canada and the Federal Reserve have plenty of wiggle room to ease off further rate hikes in the immediate future. Toronto’s S&P/TSX Composite Index gained 2.4% on the week, helped along by a 4.2% rise in the price of crude oil. The main U.S. indices followed suit, with the S&P 500 Composite gaining 2.9% on the week, and the Nasdaq Composite rising 2.7%.


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By Fund Library News Wire | Thursday, January 17, 2019
By Fund Library News Wire | Monday, January 14, 2019



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

Students of history may recall the War of the Roses, which was waged more than 500 years ago. It was an epic battle between two rival branches of the English royal family that both had claims to England’s throne – the House of Lancaster, represented by a red rose, and the House of York, represented by a white rose. While the House of Lancaster ultimately won the War of the Roses, by some measures, there was no real winner. The war lasted for many years and resulted in very significant damage to both houses. In fact, by the end of the war, the male lines in both houses had been eliminated.


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By Fund Library News Wire | Friday, January 11, 2019

By Mike Keerma

Boosted by a tick down in the U.S. inflation rate for December, to an annual 1.9%, dovish comments from U.S. Federal Reserve Board officials on interest rate policy, and growing momentum in U.S.-China trade talks this past week, markets made considerable gains on the week, continuing their rally from late-December lows. Toronto’s S&P/TSX Composite Index gained 3.6% on the week, propelled by a 7.1% advance in the price of crude oil, which has gained 13.7% in the past two weeks, as well as indications from the Bank of Canada that it is pausing its rate-hike program for now as it left its benchmark rate unchanged last week. The broad U.S. blue-chip S&P 500 Composite Index logged a 2.5% advance on the week, while the Nasdaq Composite Index rallied 3.5%.


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By Fund Library News Wire | Thursday, January 10, 2019



By Mark Stacey and Bill DeRoche, AGFiQ

A portfolio that is diversified across more than one factor can lead to better risk-adjusted returns over time, but not all methods for combining factors are equally beneficial to future performance.


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By Fund Library News Wire | Friday, January 04, 2019

By Mike Keerma

Fuelled by a blockbuster monthly U.S. payrolls report that saw 312,000 new jobs created in December, the big North American stock indices started recovering some of the losses suffered over the past couple of months. Intense volatility and souring market sentiment through the fourth quarter of the year was triggered by growing anxiety about the global economy, particularly the danger posed by a slowdown in the growth of the Chinese economy. The effects of the U.S.-China trade dispute, the hawkish tone of central banks, and the flattening yield curve generated one of the worst fourth-quarter stock market slumps in decades, dragging the main market gauges into correction territory and to a loss position for the year as a whole. Toronto’s S&P/TSX Composite Index especially felt the pain, as the price of crude oil plummeted 38% in the fourth quarter.


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By Fund Library News Wire | Wednesday, January 02, 2019



By Felix Narhi, CIO & Portfolio Manager, Penderfund Capital Management

Now that we are in the late innings of the longest bull market in S&P500 history, investors are increasingly fearful that this may finally be the beginning of a long overdue bear market. The ongoing pessimistic drumbeat about trade wars, global growth slowdown and political uncertainty is starting to weigh on the market. At Pender, we are following strategies similar to those we outlined during the last big market correction in early 2016.


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By Fund Library News Wire | Friday, December 21, 2018

By Mike Keerma

The bears were out in the markets this past week. Unfortunately, they weren’t the cuddly Christmas kind. The major stock market indices posted steep weekly losses, as stocks sold off on heavy volume, exacerbated by the simultaneous expiration of stock futures and options on Friday, referred to as a “quadruple witching hour.” Traders were also beset by fears that the U.S. Senate would not rubber-stamp a funding package approved by Congress, which could set the stage for a partial government shutdown. Rising interest rates (the U.S. Federal Reserve raised its policy rate by 25 basis points last week, to a range between 2.25% and 2.5%) and signs of slowing global growth added to the Scrooge-like sentiment. That drove the Nasdaq Composite Index to an 8.3% loss on the week, and pushed it into bear market territory, down 21.9% from its high on Aug. 31. The S&P 500 Composite fell 7.0% on the week, while Toronto’s S&P/TSX Composite Index retreated 4.5%, cushioned somewhat by a 3.6% gain in the price of crude oil on the week.


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By Fund Library News Wire | Monday, December 17, 2018



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

The past couple of weeks have seen major swoons in the stock market and U.S. Treasuries. As of this writing, the selloff has been continuing. However, I still hold out hope that we could see stocks finish higher than where they are now by year-end. Yes, Virginia, there still is the possibility of a “Santa Pause.”


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By Fund Library News Wire | Friday, December 14, 2018

By Mike Keerma

The big North American stock indices posted losses again on the week, as investors reacted to slower-than-expected growth in both China and the eurozone. In addition, the European Central Bank announced earlier this week that it is ending its €2.6 trillion (US$3.9 trillion) bond buying program even as the eurozone posted a marginal 0.2% GDP growth rate in the third quarter. Markets continued their downtrend on Friday, despite some signs of easing in the U.S.-China trade dispute, a 0.2% monthly increase in U.S. retail sales in November, and a 0.6% increase in industrial production. The blue-chip Dow Jones Industrial Average is now down more than 10% from its October high, a decline that puts it into correction territory. The S&P 500 Composite Index fell 1.3% on the week, while the Nasdaq Composite Index lost 0.8%. Toronto’s S&P/TSX Composite Index retreated 1.4%, dragged down by the energy sector as crude oil fell 1.9% on the week.


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By Fund Library News Wire | Thursday, December 13, 2018

By Mike Keerma

* BMO launches two high-conviction funds.
* Manulife multifactor EM ETF debuts on TSX.
* BMO Nesbitt Burns completes fund mergers and conversions.


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By Fund Library News Wire | Tuesday, December 11, 2018

  

By Mark Brisley, Managing Director and Head of Dynamic Funds

Whether you’re seeking retirement income or long-term capital growth, dividend ETFs provide a number of significant benefits, including portfolio diversification, potential tax savings, and competitive yields – all in a single investment vehicle. Additionally, some dividend ETFs offer investors low-cost access to active management – an added potential benefit for many investors during periods of market volatility. Let’s see why exposure to dividend-paying companies remains a sound equity investment strategy – even in a rising interest-rate environment.


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By Fund Library News Wire | Monday, December 10, 2018



By Geoff Castle, Portfolio Manager, Penderfund Capital Management

In the last week of November, Federal Reserve Chairman Jerome Powell made statements that hinted at a slowing of the pace of rate hikes, an event which was cheered by equity markets. With this temporary “ceasefire” in effect, we emerge from our foxhole to survey key elements of the credit market.


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By Fund Library News Wire | Friday, December 07, 2018

By Mike Keerma

* Trade tensions sink markets.
* Bridgehouse changes managers and renames funds.
* Harvest Portfolios plans two new ETFs.

* Trade tensions sink markets. Continuing, unresolved trade tensions between the U.S. and China weighed on investor sentiment. Investors ignored still-strong job creation data and low unemployment for November, as strong selling pressure pushed the major North American stock indices deep into the red for the week. The U.S. blue-chip S&P 500 Composite Index plunged 4.6% on the week, while the tech-weighted Nasdaq Composite Index lost nearly 5%. In Canada, the S&P/TSX Composite Index retreated 2.7% on the week, as traders focused on the potential for fresh tariffs between the U.S. and China, choosing to ignore Canada’s strong job creation numbers, falling unemployment rate, and rising crude oil prices.


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By Fund Library News Wire | Friday, November 30, 2018

By Mike Keerma

* Stock indices rally on the week.
* Horizons closes two ETFs.

* Stock indices rally on the week. The main North American stock indices staged a rally last week, taking some of the steam out of the broad selloff during the past two volatile months. Even as the sinking price of crude oil (down 22.5% in November, for a 16.2% year-to-date loss) weighed on Canada’s energy sector, Toronto’s benchmark S&P/TSX Composite Index gained 1.3% on the week, as weaker third-quarter GDP growth (2.0%) raised hopes that the Bank of Canada would hold off on any further rate increases for now. The index gained 1.1% on the month, but remained down 6.2% for the year to date. In the U.S. hints that the U.S. and China may reach a trade deal at the G-20 summit in Buenos Aires helped goose the big stock indices to solid weekly gains. The S&P 500 Composite Index advanced 4.9% on the week, for a 1.8% gain on the month, putting it ahead 3.2% year to date. Likewise, the Nasdaq Composite Index surged 5.6% on the week, putting it just barely into the black for the month, but maintaining its 6.2% year-to-date advance.


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By Fund Library News Wire | Tuesday, November 27, 2018



By Aubrey Basdeo, Managing Director, Head of Canadian Fixed Income, BlackRock

In a well-diversified portfolio, as one asset class declines, another should rise, mitigating risk and minimizing losses. Yet that is proving to be easier said than done. As fixed-income and equity markets seem to have shifted to risk-off, investors are struggling to find assets that move in the opposite direction from other assets, leaving portfolios exposed to synchronized losses even if they are diversified. Specifically, the recent performance of stocks and bonds has been moving in the same direction: down.


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By Fund Library News Wire | Friday, November 23, 2018

By Mike Keerma

Spurred by concerns over oversupply, commodity traders sold crude oil in a big way this past week, as the price of WTI crude fell 11.2% on the week. That in turn contributed to selling pressure on North American stock markets, as market volatility was heightened by thinner trading volumes while traders took advantage of the market shutdown on the U.S. Thanksgiving holiday and half day on Friday. The S&P 500 Composite Index lost 3.8% on the week, and is now in correction, defined as at least a 10% drop from its recent high of 2,940. Similarly, the Nasdaq Composite Index continues in correction, losing 4.3% on the week, as the large-cap technology issues continued to slide. Toronto’s S&P/TSX Composite Index posted a 1.0% loss on the week, also bowing to selling pressure in the energy sector.


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By Fund Library News Wire | Thursday, November 22, 2018



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

This past weekend, I had the opportunity to see a production of Macbeth. Though I’ve heard the words many times before, I was particularly fixated by a verse from one of the witches: “By the pricking of my thumbs, something wicked this way comes.” The “pricking of thumbs” was originally intended to represent the historic belief that people could sense when evil was approaching. However, I couldn’t help but think this was a timely analogy for the sensations some market participants are feeling that an economic slowdown is approaching.


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By Fund Library News Wire | Friday, November 16, 2018

By Mike Keerma

* Stocks lose ground.
* Desjardins closes two funds.
* Evolve launches active global bond ETF.
* TD launches three active ETFs.


* Stocks lose ground. North American stock indices posted losses on the week, as market sentiment soured on turmoil in the British government over Brexit negotiations and continuing uncertainty about U.S. trade tension with China, despite U.S. President Trump’s comments on Friday that it may not be necessary to add additional tariffs to China or raise existing ones. The slight uptick in Friday’s session wasn’t enough to overcome a 2.2% loss on the week for the Nasdaq Composite Index, as semiconductor maker NVIDIA Corp. (NASDAQ: NVDA) reported disappointing quarterly earnings and forecast declining fourth-quarter revenue, while Facebook Inc. (NASDAQ: FB) contended with more turmoil over its response to Russian propaganda on its site. The blue-chip S&P 500 Composite Index dropped 1.6% on the week, while Toronto’s S&P/TSX Composite Index fell 0.8%, feeling the drag of the 5.1% weekly drop in the price of crude oil.


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By Fund Library News Wire | Monday, November 12, 2018

A SPECIAL REPORT FROM



By Nash Swamy, Junior Analyst, Analytics & Data, Fundata Canada Inc.

When analyzing the Canadian investment space, it is crucial to ask what are fund managers doing with the $1.85 trillion allocated to mutual funds, ETFs and other investment vehicles. Investment funds are often packaged and sold to investors on some criteria, such as targeting U.S. large caps, emerging markets, or specific sectors. But before a Canadian investment manager can invest millions in exchanges around the world, a simple exchange rate transaction must occur as a prerequisite to participate in global capital markets. By analyzing the deployable cash in investment funds, we can assess the street’s market sentiment and get a fix on the liquidity of investment funds on a cash and cash-equivalents basis.


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