The Living Market Podcast: Recent Episodes
IG Wealth Management
The U.S. goods cycle is turning, and it has implications well beyond American factories. Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, explains what a remarkably strong monthly survey of U.S. factory purchasing managers tells us about where earnings growth is headed, what it means for Canadian equities and why history says the current cycle still has room to run.
When markets move sharply, the instinct is to look at the numbers. Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, argues the real question is whether the story behind those numbers has changed. He explains why valuation isn't a timing tool but a measure of how far things can move, and why the same market moment can look completely different, depending on where you're standing.
Astronomers predicted the April 2024 solar eclipse to the second. Not one of them can tell you what the S&P 500 will do next Tuesday. That gap, says Philip Petursson, Chief Investment Strategist at IG Wealth Management, is the point. Right now, the CAPE ratio, a widely followed measure that compares the total value of the U.S. stock market against the size of the U.S. economy, is at an all-time high, and the headlines are getting louder. Philip explains why that number is less alarming than it sounds, why measures like this are reliable guides for long-term returns but almost useless when predicting short-term market movements, and what valuation is genuinely useful for.
This week, a different format. Philip Petursson, Chief Investment Strategist at IG Wealth Management, runs through five market insights in one episode: why earnings expectations are the highest they've been in years; what June's soft inflation statistic does and doesn't tell us; why roughly four in ten S&P 500 stocks were down 20% or more from their highs, even as the index hit records; why the calendar gets tougher from here; and why record profit margins raise the bar for everything that follows. One thread ties it all together: expectations are high everywhere you look, and the next two months will tell us whether reality can clear them.
Nobody's bracket survives the World Cup. And nobody's market thesis survived the first half of 2026 either, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. All seven Magnificent Seven stocks are trailing the S&P 500 at the halfway mark, while emerging markets and Canada have been the tournament's surprise winners. He explains what changed with the tariff shock of April 2025, why favourites are still good teams but not a plan on their own and why owning the whole field is the only strategy that keeps you in every round.
The headlines in the first half of 2026 were loud: a war in Iran, oil above $100 a barrel, inflation concerns and a weakening consumer. None of it was enough to derail markets, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. He breaks down the earnings and economic backdrop that drove returns across U.S., Canadian and international equities, explains why Canada and the U.S. are now heading in opposite directions on interest rates, and makes the case that any volatility in the second half of 2026 may turn out to be an opportunity.
While investors were focused elsewhere, the Canadian dollar quietly fell almost 5% against the U.S. dollar over the past two months. Philip Petursson, Chief Investment Strategist at IG Wealth Management, explains the two forces driving that weakness: falling oil prices and a widening gap between Canadian and U.S. interest rates. With the Bank of Canada likely to shift its focus from inflation to a slowing economy, and the U.S. Federal Reserve expected to raise rates further, his view is that the pressure on the loonie may not be over.
Markets don't climb because everything is fine. They climb because everyone is convinced it isn't, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. He explains why the wall of worry that carried markets through the first half of 2026 has largely come down, and why that shift raises a simple question: what will carry the markets from here? He breaks down what history says about mid-term elections, why earnings remain the real floor under this market, and why the set-up for the second half of the year is more constructive than many investors might expect.
Two years ago, incoming U.S. Federal Reserve chair Kevin Warsh warned that central banks were getting too comfortable with higher inflation and called it very dangerous. Philip Petursson, Chief Investment Strategist at IG Wealth Management, explains why that warning looks prescient today. With most central banks worldwide running above their inflation targets, and bond yields climbing, the boom in labour markets and asset prices is coming with a cost. The question is how central banks respond, and whether markets are ready for that answer.
Is inflation bad for stocks? Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, went back through 76 years of market data to test that assumption, and the answer is more nuanced than most investors might expect. Stocks have been at least partial inflation hedges across most of the range we've actually lived through. The real risk isn't the inflation level itself; it's the policy response and whether that response tips the economy into a downturn.
The stock market is doing something unusual: rising steadily while consumers feel worse than they have at any point in recorded history, and most of the usual warning signs are flashing. Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, breaks down the artificial intelligence concentration story driving U.S. markets and why 10 companies now account for roughly 40% of the entire index. He explains why this rally deserves respect but not blind faith, and why a truly diversified portfolio today means owning more than one version of the same trade.
The bond market has been sending a message, and equity investors are starting to have to listen. Philip Petursson, Chief Investment Strategist at IG Wealth Management, breaks down what rising long-term government bond yields mean for a stock market that has climbed sharply in value this year. With inflation still elevated, the U.S. Federal Reserve is in a difficult position. Additionally, AI-driven growth remains powerful, but higher rates are forcing investors to reassess risk, future cash flows and the true cost of capital.
Most investors haven't been paying attention to Korea. Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, makes the case that they should be. He explains how sweeping corporate governance reforms have unlocked remarkable stock market gains and why Korean export data has become one of the most reliable early signals for where U.S. manufacturing is headed. For investors focused on artificial intelligence, global manufacturing and shareholder reform, Korea sits at the intersection of all three.
You have a will. But when did you last review it, and does the person you've named as executor truly understand what they're taking on? In this special edition of The Living Market, host Aurèle Courcelles, IG’s Vice-President, Tax and Estate Planning, is joined by Dan Britton, IG’s AVP, Tax and Estate Planning and Devon Miller, VP, Partnerships and Distribution at ClearEstate. Together, they explore why a will that made sense years ago may no longer reflect your current reality, what the executor role truly demands, and how estate disputes — even in close families — often begin not with money, but with surprises.
When almost everything else feels uncomfortable, earnings have been the one thing working. Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, unpacks one of the strongest earnings seasons in years: broad-based growth, strong cash flow and all 11 sectors participating for the first time in four years. But Ashish also shares a word of caution: this is a powerful market but not necessarily a safe one. When a market is priced for perfection, good results aren't always enough. The question now isn't whether earnings are good, it's whether they can stay good enough to justify what investors are paying.
The Canadian economy is slowing, but that's not the whole story. Philip Petursson, Chief Investment Strategist at IG Wealth Management, explains why a cautious view on the domestic economy doesn't have to mean a cautious view on Canadian equities. He explores how the Toronto Stock Exchange is more connected to global commodity prices and international business activity than to what's happening at home, and why that distinction matters more than ever right now.
This year, IG Wealth Management celebrates 100 years of helping Canadians invest through everything markets can deliver. Philip Petursson, Chief Investment Strategist at IG Wealth Management, takes us through a century of market history; from the 1929 crash to the dot-com boom, the 2008 crisis and pandemic shock. He reveals a surprising pattern: while the triggers change, the rhythm stays remarkably consistent. Excess leads to stress, followed by policy response and recovery. Philip explains why the core building blocks of investing haven't fundamentally changed and shares the real lesson from a century of markets: success isn't about predicting the future perfectly, it's about preparing for it consistently.
Markets aren't irrational just because they don't do what you expect, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. He explores how positioning drives market movements more than headlines. He reveals why systematic traders added billions in buying pressure and how geopolitical shocks typically follow a predictable pattern. In the end, waiting for the story to feel good means missing the move, because price isn't a result of the story — price is the story.
Headlines make corrections feel like collapses, but what does the data actually show? Philip Petursson, Chief Investment Strategist at IG Wealth Management, separates market mood from underlying reality. He explores how falling stock prices in the face of rising profit expectations create a better setup, shares surprising strength from major airlines reporting their best booking weeks ever and explains why the economy looks sturdier than investor sentiment suggests heading into earnings season.
Are we close to a market bottom, or is more pain ahead? Philip Petursson, Chief Investment Strategist at IG Wealth Management, assesses recession risk through multiple indicators, including yield curves, manufacturing data, financial conditions and labour markets. He discusses why markets are making a familiar mistake by extrapolating geopolitical shocks into macro collapse, and the critical difference between momentum loss and level collapse. He also explains why it would be a policy error to increase interest rates in weakening economies because of oil supply shocks. Philip shares his view on the catalysts that could build the foundation for a meaningful low, as bad news stops working the way it once did.
When should investors react to headlines and when should they hold steady? Philip Petursson, Chief Investment Strategist, IG Wealth Management, addresses the challenge of separating emotional reactions from sound evaluation during volatile periods. He discusses the Trump administration's consistent pattern of escalation followed by de-escalation, why oil price increases don't automatically signal recession, and what historical data reveals about the difference between ordinary corrections and genuine market crashes. Philip shares why current economic indicators — strong jobless claims, improving manufacturing and resilient trade data — suggest fundamentals remain solid despite unsettling headlines from Washington, Jerusalem and Tehran.
Tax season is here. Are you ready? Host Aurèle Courcelles, Vice-President, Tax and Estate Planning at IG Wealth Management, sits down with Jonathan Braun, Senior Manager of Tax and Estate Planning at IG Wealth Management, to break down everything Canadians need to know for their 2025 tax filing. They discuss the new federal tax rate reduction and its surprising impact on non-refundable credits, updated alternative minimum tax rules, strategic timing for RRSP deductions, how to maximize medical expenses and charitable donations, and essential prep work to make tax season less stressful. Whether you're self-employed, working from home or managing investments, this special edition of the Living Market delivers practical strategies to help you file with confidence.
The Bank of Canada held rates steady this week, but the tone of its statement revealed something important about the inflation challenge ahead. Philip Petursson, Chief Investment Strategist at IG Wealth Management, examines why raising rates during a period of oil-driven supply shock could do more harm than good. He explains how higher oil prices act as a tax on consumers, why the Canadian economy is already showing signs of fatigue and what this means for the probability of rate cuts before year-end. Plus, he shares insights on how a potential policy divergence between Canada and the U.S. could pressure the loonie toward the lower end of its projected range.
After oil spiked above $119 and markets panicked, the waters have calmed a little. Ashish Utarid, Assistant Vice-President, Investment Strategy, discusses whether the current energy crisis will be a temporary operational shock or a lasting supply break. He explains that the system is clogging rather than cutting off completely, how supply-driven shock differs from demand overheating, and what signals investors should monitor to distinguish whether this is just short-term volatility or if the impact could be longer lasting.
How will the latest geopolitical tensions among Iran, the United States and Israel affect global markets? Philip Petursson, Chief Investment Strategist at IG Wealth Management, provides a thorough analysis. He explains why the Strait of Hormuz is essential for oil supply, how Canadian equities could benefit from elevated oil prices and why maintaining disciplined investing is important during periods of volatility.
What does the recent U.S. Supreme Court decision on tariffs mean to investors? Philip Petursson, Chief Investment Strategist, IG Wealth Management, says despite the attention-grabbing headlines, the core components of trade policy remain unchanged. Philip says the bigger story is about growing uncertainty and shifting market leadership. He explores how global markets, inflation and portfolio positioning may be affected, and shares some things to keep an eye on as trade policy enters a new phase.
AI is having two seemingly contradictory effects on the markets, says Ashish Utarid, Assistant Vice-President, Investment Strategy, IG Wealth Management. AI’s spending and projects are real, and the investment amounts are stratospheric. At the same time, AI is disrupting today’s reality, and the market is already pricing in that disruption before it’s even had a chance to affect companies’ balance sheets. Ashish explains what this means for the markets and investors.
Philip Petursson, Chief Investment Strategist, IG Wealth Management examines the shifting roles of gold and bitcoin in the modern financial environment. He offers a thorough look at why gold continues to serve as a premier safe-haven asset during global turmoil, while bitcoin struggles with its identity. He also examines the gold-to-silver ratio and the evolving nature of risk appetite.
Philip Petursson, Chief Investment Strategist, IG Wealth Management, examines a significant juncture for global markets: the Bank of Canada’s wait-and-see stance, the U.S. Federal Reserve’s likely policies during a leadership transition and a noticeable correction in precious metals. He explores how evolving signals from central banks, currency changes and valuation adjustments are influencing investor sentiment.
While central banks have chosen to maintain their current stance, underlying uncertainty remains a significant factor. Ashish Utarid, Assistant Vice-President, Investment Strategy, IG Wealth Management, looks at the recent decisions by the Bank of Canada and the U.S. Federal Reserve and highlights why interest rates are no longer the dominant force in the markets. He says that growth, trade disputes, currency fluctuations and geopolitics are likely to prompt the markets’ next big moves.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, discusses the rise in market volatility and the headlines capturing attention in early 2026. He examines the effects of recent geopolitical and policy developments — from new trade disputes to questions about the independence of the U.S. Federal Reserve — on investor confidence.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, explores the remarkable acceleration in U.S. economic growth, as shown by the Atlanta Fed’s GDPNow model. Philip uncovers the roles of trade, fiscal stimulus and regulatory credit easing, while examining the tension between robust GDP figures and a cooling labour market.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, returns with a timely breakdown of the latest U.S. tariff developments and their broader economic consequences. He explains how tariff hikes on Canadian and Chinese imports were far lower than expected and why the most hopeful outcomes for tariffs might not lead to straightforward gains. Philip provides scenarios of how tariffs, inflation and monetary policy are shaping the investment outlook for 2026.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, throws out the consensus playbook and presents three fearless forecasts for 2026. From a bold call on copper’s relentless rise and oil’s surprising rebound, to the prospect of Canadian equities outpacing their U.S. counterparts for a second year, this episode challenges market assumptions and explores where opportunity may be hiding. Philip shares analytical insights into macroeconomic drivers, sector fundamentals and global trends that could define the year ahead.
Philip Petursson, Chief Investment Strategist, IG Wealth Management, explores the fourth and final pillar of our 2026 market outlook: the wealth effect wave. He says that rising equity markets and the spending patterns of the wealthiest Americans continue to drive economic expansion. He also says consumer discretionary stocks signal economic strength and shares what disciplined investors should focus on as they navigate the markets in the year ahead.
This episode explores the third pillar of our 2026 market outlook: the transformative AI supercycle. Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, unpacks how disciplined, cash-flow-backed investments in artificial intelligence infrastructure are reshaping economic growth, enhancing productivity and driving the next phase of expansion. He says today’s AI investing cycle is fundamentally different from prior tech booms, and explores what this means for the markets and broader economy.
This week, we have part two of our series on the 2026 market outlook. Ashish Utarid, Assistant Vice-President of Investment Strategy at IG Wealth Management delves into the fiscal engine, examining how expansionary fiscal policies in both the U.S. and Canada will drive market activity. He explains the effects of accelerated depreciation and Canadian stimulus on households, corporations and overall economic growth, emphasizing how this calculated boldness is likely to be rewarded by markets.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, begins a four-part series on the 2026 market outlook by looking into the significant influence of monetary policy. He analyzes the current landscape, the signs indicating a weak recession risk and the supportive macroeconomic factors, with a deep dive into how global central banks' easing strategies will influence market performance and the Canadian dollar's stability.
Philip Petursson, Chief Investment Strategist at IG Wealth Management reviews third-quarter earnings results, highlighting the strong performance across the board. Philip emphasizes the importance of this earnings growth trend and discusses the balance between AI winners and other sectors. He also provides insights into valuations and the potential risks for the next quarter.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, delves into the current market conditions and offers insights on the bull market's health in this episode. He discusses the market cap distortion story, the rotation towards consumer discretionary exposures and why the primary trend remains higher.
In this special edition of the podcast, Aurèle Courcelles, Vice-President of IG’s Tax and Estate Planning team explains how the changes in the recent federal budget could affect you. He discusses the tightened rules around trusts and the elimination of certain taxes, including on real estate and some luxury vehicles, which will be good news for many taxpayers. He also talks about changes to help caregivers who look after many of Canada’s seniors, plus how double dipping has been eliminated on the Home Accessibility Tax Credit.
Two cuts, two central banks, one message: the tightening chapter is over, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. He uncovers the motivations behind the Bank of Canada and the U.S. Federal Reserve decisions to cut rates. He examines the impact on inflation, growth and monetary policy, and provides insights into what we might expect next in the coming months.
Tune in as Philip Petursson, Chief Investment Strategist at IG Wealth Management addresses the top investor questions: is AI in a bubble? What's happening with the Canadian dollar? And is gold's recent surge a safe-haven rally or a market bubble? Philip shares his expert insights on these pressing topics, providing clarity and context for investors navigating today's complex market landscape.
Philip Petursson, Chief Investment Strategist at IG Wealth Management breaks down the key factors influencing the market this week, from gauging the optimism of small businesses to the implications of the U.S. Federal Reserve potentially reducing the size of its balance sheet. Philip explores the market’s addiction to liquidity and the challenges of navigating low yields and high valuations.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, explores the surprising connection between the S&P's upward movement and the simultaneous spike in expected volatility, a situation that has never happened before. He explains how traders' focus on single-name leverage is distorting the volatility landscape and discusses the potential implications for the market as it heads into a busy October with significant economic data releases.
Right now, liquidity is plentiful, demand is strong, and even the riskiest bonds are trading just fine, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. He says if credit spreads start drifting wider, that’s your cue to pay attention. This week Ashish dives into the bond market and explores the significance of credit spreads and their implications for the economy.
In this special edition of The Living Market, Aurèle Courcelles and Sheryl Troup from IG Wealth Management’s Tax and Estate Planning team share their expertise on year-end tax planning. They discuss critical strategies, such as income splitting, capital gains planning and charitable giving, and provide key dates and final tips to help listeners stay organized and ensure they don't miss out on important tax saving opportunities.
As we move into the final quarter of the year, Philip Petursson, Chief Investment Strategist at IG Wealth Management reveals all the data points that keep supporting strength in the equities markets. While on the surface, things might look messy, almost every indicator is a positive for equities. Philip explains how monetary and fiscal policy, credit, company balance sheets and low global bond yields are all favourable, explaining why equities continue to win over bonds.
As expected, both the Bank of Canada (the BoC) and the U.S. Federal Reserve cut their overnight interest rates this week, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. The BoC didn’t really have a choice, he says, with unemployment at its highest in a decade (apart from during the pandemic) and inflation within targets. But can we expect more cuts in the near future? And how could it all impact your portfolio?
Recent labour market data in Canada and the U.S. reveals signs of weakness, with significant job losses and rising unemployment, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. He examines the data, the policy implications and the forward-looking indicators that investors should watch out for.
There is a disconnect between market performance and the headlines that dominate the news, says Philip Petursson, Chief Investment Strategist, IG Wealth Management. He highlights how, in the past year, the market has defied expectations in Europe, Israel and China, despite negative narratives. Philip emphasizes the importance of trading based on actual market conditions, rather than emotional reactions to news and politics.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, explores the market's resilience and momentum in September. He highlights solid profit margins, a recovering manufacturing sector and strong consumer confidence. He explains how market highs are not a cause for panic and how momentum can drive further gains, as he offers insights into the fall outlook.
This year has already seen close to 20 record highs for the S&P 500, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. But can an index get too high? Philip shares data on the 968 all-time highs since 1970, including how long these periods typically last and how, on average, the market has reacted afterwards, including details of gains and losses.
Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, explores the second-quarter earnings season and the role of low expectations in driving positive surprises. He breaks down how companies across various sectors managed to outperform despite the tariff noise.
Summer is historically a sluggish time of year for the stock market, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. While July usually delivers a decent return, August is typically flat, and September normally dips. Ashish explains what this seasonal slump means, why a summer wobble is expected (and not panic-worthy), and how it can prepare us for what’s ahead in the fall.
This week, Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management discusses the reasons why the Bank of Canada and U.S. Federal Reserve both decided to maintain the interest rate status quo. He explains why neither bank is willing to cave in to market or political pressure, and why, nevertheless, there is likely to be a divergence in the two countries’ monetary policies. Ashish also explores what this will mean for the markets and your portfolio.
In spite of tariff issues persisting (with few actual trade deals made so far), the markets continue to grow across the board, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. The S&P 500, the S&P/TSX Composite Index and even the MSCI EAFE Index (which represents developed international markets) have all been hitting new highs. Although politics was affecting the markets as recently as last April, Philip provides three reasons why market fundamentals are now vanquishing political noise.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson, debunks the myth of cash on the sidelines. He explains why the record $7 trillion in money market funds doesn’t necessarily mean a surge in stock prices and discusses the importance of margin debt and market dynamics.
With the S&P 500 recently hitting another record high, and earnings season about to begin, IG Wealth Management’s Chief Investment Strategist, Philip Petursson asks: is the market too expensive? Philip explains that in this market of extremes — where the most expensive are very expensive — many of the remaining stocks are not. He discusses how a handful of names are leading market gains, meaning that there is plenty of value to be found elsewhere, and why high valuations aren’t a cause for panic, but a reason to be selective.
Join Philip Petursson, IG Wealth Management’s Chief Investment Strategist, as he examines the recent U.S. trade agreements with Vietnam and the U.K., and what they reveal about the upcoming July 9 deadline for the U.S. administration's trade strategy. Philip discusses the potential scenarios and implications for global markets.
Join IG Wealth Management’s Chief Investment Strategist, Philip Petursson as he discusses the market's reaction to the politically charged shocks in 2025’s second quarter. He explores how “What, me worry?” could have been a viable investment strategy during this period and provides insights into the market's resilience amid headline-driven volatility.
“Volatility isn’t just risk, it’s also opportunity,” says Philip Petursson, Chief Investment Strategist at IG Wealth Management. This week, Philip unpacks the relationship between geopolitics and investment portfolios. Philip explains why markets demand clarity over peace and how investors can navigate uncertainty by focusing on fundamentals and diversification. He shares insights on turning volatility into opportunity and offers three principles for investing through geopolitical turmoil.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, delves into the current market dynamics as we head into the summer. He discusses the recent strong performance of the Nasdaq and the shift in investor sentiment from fear to cautious optimism. Philip also explores the underlying economic indicators and the renewed interest in quality and defensive stocks. Despite the market's bounce, he highlights the ongoing risks and the importance of staying vigilant in a market that rewards consistency and punishes complacency.
This week, the Bank of Canada (BoC) decided to hold its key interest rate at 2.75%, which was a surprise to nobody, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. With gross domestic product a little better than expected, inflation dropping and jobs steady, a rate cut wouldn’t have made sense. Philip discusses what might have to happen in the future to lead to another rate drop, and how much room the BoC has for further cuts.
U.S. bonds took centre stage again this week, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. This was due to President Trump’s Big Beautiful Bill, which is expected to add $3.3 trillion to the U.S. deficit over the next decade. Philip says that U.S. Treasury bonds are now considered almost as risky as Microsoft’s; he explains how we got to this unusual situation and what it means for investors.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, discusses the recent downgrade of U.S. debt by Moody’s and Fitch, and why these downgrades matter more symbolically than financially. He explains the market's reaction to past downgrades and the underlying reasons why Treasuries remain a safe haven, despite the ratings.
Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management delves into the recent 90-day mutual tariff reduction deal between the U.S. and China and its immediate impact on global markets. He explains how the reduction in tariffs has provided much-needed relief, leading to a surge in equities, but also cautions that deeper issues in the trade relationship remain unresolved. Ashish discusses the potential long-term implications and why investors should maintain a balanced perspective, despite the current market optimism.
In this special edition of The Living Market, Aurèle Courcelles Vice-President, Tax and Estate Planning at IG Wealth Management and Dan Britton, Assistant Vice-President, Tax and Estate Planning at IG Wealth Management, discuss the key elements of a comprehensive estate plan and why it's crucial for Canadians. They explore the common misconceptions about estate planning, the importance of having a will and the potential pitfalls of not considering joint ownership and beneficiary designations. Dan also provides practical advice on how to get started with estate planning and the critical role of communication with your chosen executor.
Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, discusses the recent market turnaround and the shift in sentiment from negative to positive. He explains why this positive stance is more about technical factors and market structure, rather than improved fundamentals. Ashish also explores the potential tailwinds and underlying risks, including the impact of trade tensions on the real economy.
Philip Petursson, Chief Investment Strategist at IG Wealth Management, discusses the implications of the election on the Canadian market and currency. He explores the potential impacts on trade policy, energy and resources, and fiscal measures, and explains why the election results are likely to bring more stability and less uncertainty for investors.
Philip Petursson, Chief Investment Strategist at IG Wealth Management discusses the unexpected strengthening of the Canadian dollar. He explores the conflicting narratives driving this trend, from the U.S. Federal Reserve’s potential rate cuts to the broader implications of U.S. political policies, and what it all means for investors.
The Bank of Canada gave us no hike, no cut and no forecasts for growth or inflation, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. He says the bank’s recent decision to stand firm at 2.75% reflects a cautious “wait and see” approach in the face of global and domestic uncertainties. Philip delves into the bank's well-balanced statement, the clashing forces of economic slowdown and tariff-driven cost increases, and why staying put might be the best strategy in such a volatile environment.
This is a very different environment compared to other historical periods of volatility, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. This one was caused by political policy, rather than a financial shock, so it should be temporary. If that’s the case, how do we know when to jump back into equities? Philip outlines three pieces of market data (including the CBOE Volatility Index, elevated one- and two-day drops in market value, and investor pessimism) that suggest that now may be the time to capitalize on lower equity prices.
For nearly 15 years, the U.S. stock market has been the standout performer, but is that about to change? Philip Petursson, Chief Investment Strategist at IG Wealth Management, explores the economic implications of U.S. government deficits, the rise of European fiscal spending and the recalibration of tech giants' growth narratives. Philip discusses the potential shift in global investment trends and the opportunities in commodities and Chinese equities.
With the market officially in correction territory, IG Wealth Management’s Chief Investment Strategist, Philip Petursson says that the big question on most investors’ lips now is: when will the market rally begin? Philip explains what defines corrections and bear markets, and discusses the statistics that market analysts use to help them predict the timing of market recoveries. While having the odds on your side is no guarantee of winning, the CBOE Volatility Index has successfully predicted most recent market upturns.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson delves into the economic and market implications of President Trump’s trade policies. By focusing on empirical data and practical outcomes, Philip examines how tariffs have affected consumer prices, employment, the trade deficit, and international relations. Despite the intended protective measures, the data suggests that tariffs have led to higher costs for consumers, job losses in certain sectors, and increased economic uncertainty.
The Bank of Canada has cut interest rates, but not for the reasons you might think, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Governor Macklem emphasized the recent strength of the Canadian economy and labour market, making it clear that the cut was a direct response to the tariffs imposed by President Trump. Philip explores the implications of this decision and the balancing act the bank faces.
While the U.S.’s 25% tariffs will undoubtedly have negative impacts on both the U.S. and Canadian economies, it’s not all bad news, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. He discusses three key outcomes, including the opportunities to be had as tariff chaos knocks the markets. As Philip says, now is the time to be a hunter, not a sheep.
In a world of constant political and market uncertainty, IG Wealth Management’s Chief Investment Strategist, Philip Petursson, revisits the rules he developed during the global financial crisis to help investors navigate today’s volatile environment. From vanquishing fear and panic to understanding the economic landscape and keeping a long-term perspective, Philip provides practical advice to stay resilient and capitalize on opportunities. Join us as we explore how to survive a Trump attack and maintain a level head in the market.
The markets are up probably more than anyone expected so far this year, says Ashish Utarid, IG Wealth Management’s Assistant Vice-President, Investment Strategy. In spite of ongoing threats of trade tariffs, AI and growth stocks continue to perform well, and even last year’s worst-performing stocks are bouncing back. Ashish covers the three main reasons behind the markets’ current momentum and discusses how long we can expect to see it continue.
Gold has performed really well in recent years, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Over the last one, three and five years, it has outperformed the S&P 500 Index. With gold once more making waves, Philip examines how gold is valued (including why it’s currently worth way more than its extraction costs), the history behind gold’s correlation with the U.S. dollar and how it acts as a safe haven, especially when political change leads to economic and market uncertainty.
There’s been a lot of noise around trade announcements, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson, and it’s easy to assume the worst. However, Philip explains how trade tensions are nothing new and that this uncertainty can bring opportunities for Canada. He discusses the likelihood of tariffs being imposed on Canada, how tariffs on China could benefit Canadian exports and why potential tariffs on Europe could be a boost for Canadian-made cars.
In this special edition of the podcast, IG Wealth Management’s Chief Investment Strategist, Philip Petursson is joined by Aurèle Courcelles, Vice-President, Tax and Estate Planning at IG, as they discuss the essentials of retirement income. Aurèle explains how it’s important to plan your retirement paycheque in advance and how to work out how much it should be, depending on the kind of retirement you want. He also outlines all the potential sources of retirement income, and how to minimize your retirement tax bill and government clawbacks.
Investors can get caught up in politics, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson, but it’s far more important to focus on current market and economic fundamentals. He gives a breakdown of three key economic truths; a solid U.S. economy, with low unemployment and encouraging growth expectations; forecasts for improved corporate earnings and greater manufacturing; and a realistic investor sentiment that is avoiding over-confidence.
There’s a big divide within the investing community as to what value investing is and whether it’s relevant, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. However, Philip believes that valuation always matters, it just needs redefining. He explains what value investing is, why it’s underperformed recently and which metrics to use to discover value stocks with real potential.
To begin the new year, IG Wealth Management’s Chief Investment Strategist, Philip Petursson decides to deviate from his usual balanced approach and go all out with his wildest and most fearless predictions for 2025. Philip offers five possible scenarios, including a Chinese equities renaissance, a boom in mergers and acquisitions, a culling of profitless tech companies and the energy consequences of a continuing surge in AI investment.
The Canadian dollar was struggling even before this week’s political turmoil, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. A soft economy and the difference in monetary policy between Canada and the U.S. had already pushed the loonie down toward US$0.70. The uncertainty following Chrystia Freeland’s resignation means the loonie is likely to lose even more value. Philip discusses the potential market beneficiaries of such a weakened loonie.
There are several risks we should expect to come across in the new year, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. These include central bank rate cuts (or the lack of them), high valuations, extreme consumer optimism, ongoing geopolitical risks and highly concentrated equities. Philip offers advice on how to protect your portfolio from the volatility that some of these risks could cause, while also taking advantage of the opportunities that they could bring.
November was a surprisingly good month for U.S. equities after a disappointing October, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Not only did the Nasdaq and the S&P 500 enjoy the best monthly returns of the year, but they were both outshone by the Russell 2000 (the index of smaller U.S. companies), which saw a monthly increase of 11%, a direct result of euphoria surrounding Trump’s America First agenda. Philip asks, is this performance sustainable, or have markets become complacent, ignoring some persistent risks?
In this special podcast, IG Wealth Management’s Chief Investment Strategist, Philip Petursson presents his economic outlook for the new year. He discusses how growing demand and manufacturing are boosting the global economy, how inflation is likely to develop, the pros and cons of a weak Canadian dollar and diverging central bank policies. Philip also explains how bonds are poised to deliver good long-term returns, which could in turn put pressure on stock prices. He feels that this pressure, along with overly high equity valuations, will make disciplined stock selection even more important.
The Forgotten 493 and smaller U.S. companies have been making a comeback since the U.S. elections, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. These smaller companies derive most of their income from within the U.S. and so are considered more likely to benefit from the American-first policies expected from the incoming government. Philip says that it’s the ideal time to start broadening your exposure by looking beyond the Magnificent Seven (Apple, Microsoft, Amazon, Alphabet, Tesla, Nvidia and Meta) and considering smaller U.S. companies.
Markets have been on a wild ride since the U.S. election results, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. The S&P 500 reached a new high, bitcoin mania is back, and credit spreads are reaching levels not seen in over a decade. However, Ashish believes that markets are too eager to price in the benefits while ignoring the risks. He explains the differences in market conditions between the beginning of Trump’s first and second terms, and why he recommends a more cautious approach.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson discusses the most important things to understand to make sense of the market’s reaction to the U.S. election results. He explains how the post-election period has historically been a favourable time for the stock market, and how tax cuts, trade tariffs and futures are likely to pan out. He also provides three key take-aways around equity performance, long bond yields and U.S./Canadian dollar valuations.
The end of the year is often a time when investors think about ways to minimize next year’s tax bill, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. In this special edition of the podcast, Philip and his guest, IG’s Aurèle Courcelles, Assistant Vice-President, Tax and Estate Planning, explain how to make tax-efficient charitable donations. Aurèle discusses how to reduce your tax bill with in-kind donations, life insurance donations and charitable foundations.
Canadian consumers have been in need of some serious interest rate relief, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson, and the Bank of Canada gave them just that this week, with a half-a-percentage-point rate cut. While this came as little surprise (markets had been pricing in this rate cut for a couple of weeks) it was still very welcome. Philip explains what this will mean for mortgage holders, the loonie and the economy, and what kind of cuts we might expect going forward.
If elected, Donald Trump is promising to impose higher tariffs on imports from China and other countries, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. Tariffs are designed to protect domestic industries, incentivize change in foreign countries and generate revenue for the U.S. federal government. However, as Ashish explains, there are several negative side effects to tariffs that could have a significant impact on the U.S. economy in 2025.
In the Bank of Canada’s (BoC) next meeting, a larger-than-previously-expected rate cut of 0.5 percentage points is likely, says Pierre-Benoît Gauthier, Vice-President, Investment Strategy at IG Wealth Management. Given that inflation has been tamed (it’s now down to 2% — or 0.5% if you cut out shelter costs) and the economy has stalled in the last couple of years, it makes sense that the BoC will surprise us with a larger rate cut. Pierre-Benoît explains what this will mean for investors.
In his review of the third quarter of the year, IG Wealth Management’s Chief Investment Strategist, Philip Petursson delves into the reasons behind investors’ growing enthusiasm for higher-risk investments. He also gives an overview of the quarter’s highlights, including Canadian, European and (finally) U.S. central banks cutting interest rates (having won the battle with inflation); the shift to supporting weakening labour markets; the effects of Chinese stimulus measures; and the likely impact of the upcoming American elections.
China is finally getting serious about its economy and its stock market, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. After seeing Chinese stocks lose $6 trillion in value over the last three years, the People’s Bank of China has just announced some significant policies aimed at giving its ailing stock market a huge boost. Philip discusses whether these policies will be enough to make a difference and asks, if they do succeed, what will the consequences be for other world economies?
The longest inverted yield curve in history is finally coming to an end, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. An inverted yield curve is when long-term bonds have lower yields than short-term bonds (an unnatural situation, given that long-term bonds are riskier and therefore typically provide a higher return). Ashish explains what the end of an inverted yield curve has historically meant for the markets and whether it could signal an upcoming recession.
The U.S. Federal Reserve (the Fed) needs to tread carefully with any upcoming rate cuts, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Many financial commentators are expecting a significant cut (of 50 basis points) because of weakening economic data and a more volatile market. However, Philip asks, will a large rate cut have the right effect? He argues that it’s not the Fed’s job to soothe the markets and that we should keep rate cut expectations real.
Berkshire Hathaway, the investment company run by Warren Buffet, recently hit the $1-trillion-value mark, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Since 1987, Buffet’s company has returned an average of 16.7% annually, considerably more than the S&P 500’s average return of around 11% over the same period. Philip explains why the company often performs well when markets are down and why his team’s tactical tilts are mirroring those of Berkshire Hathaway; cutting stakes in equities and boosting the fixed income portion.
What drives one stock index to outperform another? This is the key question that IG Wealth Management’s Chief Investment Strategist, Philip Petursson explores in considering whether recent gains on the S&P/TSX Composite are coming from the success of the companies that make up the index, or are the gains the output of something else altogether.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson reviews the most recent earnings season. This is when companies report their quarterly revenue (sales) and earnings (profits). Philip explains the difference between the two, how disappointing revenue can still result in increased earnings, which sectors were this season’s winners and losers, and what needs to happen for S&P 500 stocks to continue to increase in value.
It’s easy for market participants to get obsessed with tiny details, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Right now, it’s an obsession with the U.S. Federal Reserve’s next move on cutting rates, which would require an acceptance that the economy is weakening. At the same time, however, markets expect earnings to grow by 10% over the next 12 months, suggesting a strong economy. Given this paradox, Philip says that now is the time to step back from the minute details and focus on what is currently crucial for investment portfolios.
On Monday, Japan’s Nikkei index saw its worst two-day drop ever, having reached an all-time high just three weeks ago, says Ashish Utarid, Assistant Vice-President, Investment Strategy. While several factors were in play, one in particular seemed to spark this extreme volatility: the carry trade. Ashish explains how a carry trade works, how it’s at risk from currency fluctuations and what you can do to help protect your portfolio from this kind of volatility.
The U.S. Federal Reserve has decided to stay put and follow market expectations by not cutting rates. However, by changing its statement, the Fed set expectations for a September cut, saying that job gains have moderated and that inflation was now only “somewhat elevated.” Ashish Utarid, IG Wealth Management’s Assistant Vice-President of Investment Strategy, asks, “Will the Fed’s eventual rate cut come too late?”
Having just announced a second interest rate cut that quickly followed the first, what’s next for the Bank of Canada? asks IG Wealth Management’s Chief Investment Strategist, Philip Petursson. The bank has clearly switched its priorities from fighting inflation (a battle it has surely won) to supporting the Canadian economy. Philip discusses the probable rate cuts ahead, the likely timing for the U.S. Federal Reserve to start following Canada’s lead, and what this will all mean to consumers and the economy.
Some commentators are worried about a market recovery where most gains are coming from a small percentage of companies, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. There is a fear that many of these large companies are very expensive, with overly high expectations. However, Philip explains that in this weird bull market — where most companies have underperformed so far — if the big companies start seeing a correction, another sector will be ready to step in to take its place.
Labour has been traded for food, shelter and clothing for thousands of years, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. It’s the currency that keeps the world spinning and plays an important role in our understanding of the economic landscape. Philip explains why the most recent labour statistics raised some eyebrows and what they mean for the economy and your investments.
The economy can be similar to those moments in-between old and new seasons, says Ashish Utarid, AVP, Investment Strategy at IG Wealth Management. Similar to how the transition from spring to summer can bring hot days followed by cooler periods, the economy can also show signs of this dual nature, with some sectors thriving far more than others. Ashish says that these moments can deliver hidden gems, and it’s crucial to position your portfolio to benefit from the unique opportunities available.
Inflation increased slightly in May, to 2.9%. Not only is this disappointing, but it also suggests that it will be a long road ahead to getting inflation down to 2%, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. He explains why bonds are not the answer to counteracting the effects of inflation, and how, historically, equities have been effective in growing your money’s value when inflation is high.
While U.S. equities are flirting with all-time highs, there is some concern that they may be hitting a peak, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Has the market gone too far, too fast? Philip outlines the telltale signs to watch out for that typically signal when a bull market is running out of steam. These include the yield curve, manufacturing activity, employment levels and stock price value. He also answers the question: is it better to sell early or late when the market is peaking?
Macroeconomic data is mixed across the board, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Consumer spending is inconsistent, and unemployment is rising, yet company earnings are still growing. Philip discusses the kinds of companies and sectors that are likely to do well in this environment and makes suggestions for how you can help make sure your portfolio is well-positioned for what’s in store.
This week, the Bank of Canada finally announced a cut in its key interest rate (by a quarter of a percentage point) to 4.75%. IG Wealth Management’s Chief Investment Strategist, Philip Petursson says that, while this is a good start, it will take more than one small rate cut to make any significant difference to the economy. He explores what still needs to be done, what we can expect in the coming months and what this will mean for the loonie.
Value strategies are key to active investment management, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. They require analyzing a company’s financial information, assessing future growth potential and coming up with a value based on its capitalization rate (its net operating income divided by its current market value). However, passive investing, in the form of ETFs, simply buys company shares based on the company’s value relative to the overall market. Philip explains how this is causing overvalued companies to become even more overvalued.
Copper has an intriguing ability to predict the economy’s health, says IG Wealth Management’s Ashish Utarid, Assistant Vice-President, Investment Strategy. Thanks to its widespread use in many manufacturing activities, an increase in demand for copper often signals a growing economy. Conversely, a slowing economy usually leads to lower copper prices. Ashish explains the reasons behind copper’s recent 20% growth, and what that means for the economy in general.
With taxes now filed and RRSP contributions made, May is the ideal time to revisit and refresh your financial plan, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. In this special edition of the podcast, Philip and his special guest, IG’s Aurèle Courcelles, Assistant Vice-President, Tax and Estate Planning, discuss what investors should be focusing on right now. They talk about the possible implications of the recent budget’s capital gains tax, how to improve your estate planning and ways to modify your portfolio and its asset allocation, given the current market opportunities.
The markets are often affected by seasonal factors that are understandable and predictable, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Retail activity is always strong in December, and there’s typically far more travel over the summer months. A similarly predictable but less understood market phenomenon, however, is the way that U.S. equity markets perform in the summer leading up to a U.S. presidential election. Philip explains why you might not want to sell during these months.
Both Wall Street and the White House are keen to see interest rate cuts this year, at the very least before the November election, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Recent weak consumer spending might force the U.S. Federal Reserve’s (the Fed) hand, leading to rate cuts sooner rather than later. However, as Philip explains, while earlier rate cuts could be good news for the markets, they could bring about higher inflation. And is the Fed willing to risk that?
Contrarian indicators can often play a crucial role in forecasting market trends, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Last year, during peak economic pessimism, markets anticipated up to six interest rate cuts for this year, and those forecasts bolstered the markets. Now that we’re in a period of greater economic optimism, will that have a negative impact on the markets?
This summer, the price of crude oil could reach its highest level in almost two years, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. While this could be good for Canadian equities (which typically benefit from rising oil prices), it could have a negative effect on the markets in general. Philip explains how expensive oil drives up inflation, which could delay central bank interest rate cuts, which in turn could cause a drop in bond and equity markets.
In the first quarter of 2024 alone, the S&P 500 Index (containing the biggest U.S. companies) had 24 all-time highs. While some economic commentators believe that this rally is due a correction, simply because of the pace of its growth, IG Wealth Management’s Chief Investment Strategist, Philip Petursson says don’t believe the hype. While volatility may pop up again, history and current economic data suggest that this rally still has legs.
In the first quarter of the year the economic landscape in Canada wasn't particularly stirring, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. He says, however, that equity markets pretty much everywhere are booming. This week Philip takes a closer look and highlights market action over the past three months.
Strong language and buzzwords can have a significant impact on Wall Street, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Just two or three impactful words per 1,000 in earnings calls can boost stock volume by almost 7%, while using more cautious language typically results in just a 2.3% uptick. However, Philip wonders, can tracking these buzzwords give us clues into future trends?
Canada faces a wall of economic disparities that have widened over time when compared to the United States, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. In 1981, per capita GDP in Canada was 91% of what it was in the U.S. Last year, it was down to 73%. Philip says one step towards bridging that gap is to lower interest rates: lower inflation has given the Bank of Canada some breathing room on the path toward those interest rate cuts.
Maintaining the right balance in an investment portfolio is very much like adding the right ingredients to a batch of cookies, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. It’s essential to maintain the right allocations, and too much of a good thing can spoil the whole batch. Ashish provides an update on where the opportunities lie in U.S., Canadian, international and emerging market equities, and why it’s essential to avoid the temptation to go all-in on the current big hitters.
Gold reached an all-time high this week, making it more valuable than ever says Ashish Utarid, Assistant Vice-President, Investment Strategy. This week he asks if that makes gold a good investment choice. He dives into what makes it so valuable and considers the future for this treasured metal.
lG Wealth Management’s Chief Investment Strategist, Philip Petursson reviews Canada’s fourth quarter economic growth and says it’s a modest surprise to the upside. He looks at the flat domestic GDP growth and says the economy has stalled out, and questions when the Bank of Canada might react and start cutting its overnight interest rates.
Are we witnessing a new tech bubble, asks IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Stock prices for the Magnificent Seven (Amazon, Google, Apple, Meta, Tesla, Microsoft and Nvidia) are already up by 10% for the year. However, unlike the tech bubble of the 2000s, when stock prices soared on hopes and dreams, this time it’s rooted in substantial profits. Philip explains why you should beware of being caught up in the euphoria and instead be cautious about going all-in on tech stocks
Milestones are important symbols of progress and achievement, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. With the S&P 500 recently having broken through the 5,000 mark, Philip takes us through the S&P 500’s other notable landmarks since it broke 1,000 points in 1998, describing the index as being like a champion marathon runner who stops for coffee breaks every few miles, just to mess with us.
This Sunday marks the pinnacle of the NFL season as the Kansas City Chiefs and the San Francisco 49ers face each other in the Super Bowl, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. He says, as both football teams get ready to go head-to-head, his team was curious about the numbers surrounding the Super Bowl and so decided to break down the surprising stats on jersey superstitions, ad spends and betting trends, and answer the question: is there a stock market ripple effect?
The Bank of Canada’s (BoC) recent decision to hold its overnight interest rate firm came as no surprise, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. However, given that rate hikes have succeeded in lowering inflation, and that increased mortgage costs are now causing inflation to be higher, the time has come to start lowering interest rates. Philip reveals how he anticipates inflation to trend over the next six months and when he expects the BoC to start lowering interest rates.
The oil market is a microcosm of the global economy. It's not just a commodity; it's a barometer for economic health, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. He says by understanding oil, we gain a window into the economic forces shaping our world – including future inflation trends, global demand and geopolitical risks.
The Red Sea is a crucial artery for around 15% of global maritime trade, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. He says the attacks by the Houthi movement on commercial and navigational ships has already detoured 2,000 vessels and led to significant shipping delays. He examines whether this is a bump in the road or if it could have a lasting impact on the markets.
December’s big increase in U.S. jobs initially brought about a negative reaction from the markets, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. After all, a hot jobs report means a strong economy and therefore less pressure on the U.S. Federal Reserve to cut interest rates. However, once details emerged beyond the headline numbers (meaning weaker data than initially thought), the markets responded positively. Philip explains that, when it comes to jobs data and the markets, the devil is in the details.
We ended 2023 with plenty to encourage investors, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management: a robust U.S. consumer, inflation under control and a pause in interest rate hikes (with expectations for rate cuts in the new year). This optimism brought about strong gains for equities and bonds at the end of last year. However, Ashish warns, we may see some volatility in early 2024, given that much of those price increases were due to what was expected to happen in the new year, rather than what had already happened.
Despite some skeptics still predicting a recession in the U.S., IG Wealth Management’s Assistant Vice-President, Investment Strategy, Ashish Utarid believes that we’re in for a soft landing. He outlines the reasons why he’s confident that the new year will bring rewards for investors, including key economic indicators, such as manufacturing, exports, housing and earnings all heading in the right direction, and recent central bank statements pointing towards interest rate cuts in 2024.
In recent weeks, the forgotten 493 (the S&P 500 companies that aren’t the seven big tech companies) have jumped by almost 5%, while the Magnificent Seven have remained flat. IG Wealth Management’s Chief Investment Strategist, Philip Petursson analyzes the market conditions that have helped the S&P 500’s less well-known companies perform so well and explains why he’s optimistic that this performance will continue into 2024.
In this special edition of the Living Market, IG Wealth Management’s Chief Investment Strategist, Philip Petursson discusses ways to minimize taxes before the year-end with Aurèle Courcelles, Assistant Vice-President, Tax and Estate Planning at IG. Aurèle outlines tax-loss selling, tax-efficient charitable giving, and the most tax-efficient ways to withdraw from an RESP and a TFSA. He also explains how tax planning needs to be a part of your overall financial plan for maximum tax efficiency.
As we look towards the new year, IG Wealth Management’s Chief Investment Strategist, Philip Petursson looks at the six key themes that he feels will have big impacts on the markets in 2024. Considering all the factors, he believes the data points to a general sense of improvement. And improvement, he says, brings opportunity.
Inflation dropped to 3.1% in October, but it would have been much lower if it weren’t for the rise in mortgage interest costs, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. He examines the impacts of higher mortgage payments on consumer behaviour and retail sales, and discusses the likely timing for the Bank of Canada to make a rate cut.
There are three key reasons behind the recent fall in oil prices, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Conflicts are not having the impact on prices that was expected, which has reduced the impact of speculators. Oil output is up, with stockpiles increasing, and demand (particularly from China) is down. Philip explains what this means for the economy in general and Canada in particular.
This earnings season delivered some mixed messages, says IG’s Assistant Vice-President, Investment Strategy, Ashish Utarid. While 82% of S&P 500 companies outperformed earnings projections, only 48% outperformed total sales expectations. Ashish dives into these apparently contradictory results to explain what they mean for manufacturing, consumer behaviour and a likely recovery.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson says that while the current investing landscape is undoubtedly challenging, it’s important to remember that a weak economy does not automatically mean poor market returns. Philip shares his tips for investing in a volatile environment and reminds us that negative economic data has historically been followed by strong market returns.
The U.S. Federal Reserve, or the Fed as it’s known, is once again caught between a rock and a hard place, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. On one hand, the Fed doesn’t want to hike interest rates and trigger a recession into 2024. On the other, it sure doesn’t want to slash them. Philip says markets are beginning to come to terms with this standoff.
IG Wealth Management’s Assistant Vice-President, Investment Strategy, Ashish Utarid says, when we delve into investment risks, it’s essential to discern between two primary types: systemic and non-systemic risk. He says investment strategy takes empirical data from around the world, and by interpreting these indicators, his team provides insights for an investment decision or thesis. He says what has changed in the last decade is the impact of mass media on investor sentiment — which requires insights into geopolitical risk.
It can be impossible to truly predict the markets, even when you think you have all the data at your fingertips, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Philip explains what happened when Jane Street, a quantitative trading firm, managed to predict Donald Trump’s election victory in 2016 and used that information to bet on the overnight futures market.
This week, IG Wealth Management’s Assistant Vice-President, Investment Strategy Ashish Utarid explains how the markets are reacting to long-term bond yields outpacing short-term yields. While this situation often foreshadows a recession (as do higher-for-longer interest rates), other economic data — such as the strong labour market, tamed inflation and improving manufacturing — suggest a soft landing.
September is usually the worst month of the year for equity markets, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. However, there’s much more to current stock market volatility than seasonal precedent. Philip explains the reasons behind volatility, including the role that high bond yields play in reducing stock value. He also suggests the kind of stocks to focus on in this high-interest-rate environment.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson describes rising oil prices as being like a tax on global consumers. He explores the reasons behind oil’s recent jumps in price, how those increases are likely to affect consumer spending and whether this most recent oil shock is likely to bring about a recession, as has happened in the past.
The Bank of Canada’s goal of lowering inflation is having a noticeable impact on the economy, says IG Wealth Management’s Assistant Vice-President, Investment Strategy, Ashish Utarid. Higher interest rates have increased mortgage costs by as much as 30%, which in turn are contributing to current inflation levels. Ashish explains how this has all led to reduced consumer spending and an economy that’s been practically stagnant for the past four months.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson says that common sense might have you believe that your portfolio needs the best asset managers in the best asset class. However, historically, top performing asset managers rarely maintain their high position from one year to the next. In that case, how can you make sure your portfolio has a steady, dependable performance?
IG Wealth Management’s Chief Investment Strategist, Philip Petursson says the aim of an investment portfolio is to maximize the return for every risk taken. He says the inherent challenge is that both risk and return are variables that fluctuate. This week he looks at the complexities that investors face and considers what the optimal strategy might be in such an ever-changing investment landscape.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson says there’s no shortage of market doomsayers , but the attention they garner doesn’t necessarily mean their predictions are accurate. This week Philip looks at the historical data for periods like the present – with slowing growth and falling inflation – and draws a very different conclusion than the pessimists.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson says throughout financial quarters, companies set earning estimates and then progressively lower them until the final figures beat the expectations. And then everyone cheers. Philip says the 2023 Q2 earnings season followed the same script, but with a twist — expectations were even more subdued. This week he looks how companies performed.
Forecasting is a tricky business, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. However, recent data suggests that high inflation is behind us (at least in Canada and the U.S.) and that the Fed and Bank of Canada are done with rate increases for now. However, while Philip doesn’t forecast a full-blown recession, he believes the latest data from China means that we can’t let our guard down just yet.
After the NASDAQ’s phenomenal recent performance — up 40% from its low in 2022 — IG Wealth Management’s Chief Investment Strategist, Philip Petursson says, great; now what next? With the NASDAQ trading at 50 times its earnings (the historical average for U.S. stocks is 16 times earnings), Philip examines sectors and regions that are still comparatively undervalued, and which could present opportunities for investors willing to go against the grain, such as international, Canadian and emerging market equities.
IG Wealth Management’s Assistant Vice-President of Investment Strategy, Ashish Utarid explores China’s meteoric economic rise. Since 2001, when the country joined the World Trade Organization, with exports of around US$200 billion, China has grown to the point where it had exports of US$3.6 trillion in 2022. Ashish believes that, given China’s commitment to ongoing economic growth, and its huge industrialization and urbanization, every investor should consider exposure to Chinese assets.
The NASDAQ has dominated the market in the first half of the year, with an increase of 38% so far, driven by the surge in the tech industry, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. However, the Weightful Eight (the top tech companies) have recently been losing ground, meaning there could be more diverse opportunities in the latter half of the year, which could be good news for more diversified portfolios.
An inverted yield curve is an infamous predictor of recession, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. But it can also signal opportunity. Whether the economy experiences a soft landing, hard landing — or even no landing, fixed income is positioned to deliver favourable returns for investors.
With Nvidia recently joining the elite group of trillion-dollar companies, IG Wealth Management’s Assistant Vice-President, Investment Strategy, Ashish Utarid discusses what it takes to reach this milestone. He examines the handful of companies that make up the group so far and how Nvidia grew from a $75-billion company to its current trillion-dollar valuation in just four years.
Inflation is like a speeding train, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Once it’s built up speed, it’s hard to stop without major consequences. He examines the recent drop in inflation, how he expects inflation to continue for the rest of the year, the Bank of Canada’s likely response and how all of this will impact the economy.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson looks back at some of his predictions for 2023, including international markets rebounding and the headwinds facing U.S. markets. He also looks ahead at the reminder of the year and where any potential opportunities might lie.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson explores the historical importance of consumer spending and the current state of consumers both north and south of the border. He examines the ongoing lows (including credit card debt levels, low savings and rising interest rates) and highs (a tight labour market and healthy wage growth) and what this all means for the economy.
After the Bank of Canada’s most recent and somewhat surprising rate hike, IG Wealth Management’s Chief Investment Strategist, Philip Petursson wonders if it wasn’t premature, given that the rate hikes haven’t yet impacted many mortgage holders. He also examines the likely effect of this latest rate increase on the loonie and Canadian exporters.
Supply chain issues had a considerable impact on the economy during the pandemic, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Post-lockdowns, inventory levels soared and are only now normalizing. Philip discusses the likelihood of a resurgence in freight activity later in the year and what that could mean for manufacturing and the markets.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson believes the current value of the U.S. equity market is based on some inaccurate assumptions. He feels that earnings estimates for the latter part of the year are optimistic and that a drop in interest rates is not likely any time soon. Should investors, therefore, be looking elsewhere — such as international equities and bond markets?
In this special edition podcast, IG Wealth Management’s Chief Investment Strategist, Philip Petursson and Christine Van Cauwenberghe, IG’s head of financial planning, discuss why the spring is an ideal time to revisit your financial plan. They suggest topics to discuss with your advisor, such as any life changes, tax efficiencies, possible changes to asset allocations and RESP/RRSP withdrawal strategies.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson discusses the consequences of a top -heavy market, where the eight biggest companies account for 25% of the S&P 500. He explains the impacts the “Weightful Eight” can have on the markets when you consider that a company like Apple is more valuable than the entire Chinese stock market.
IG Wealth Management’s Chief Investment Strategist, Philip Petursson discusses the causes of the recent regional bank failures in the U.S. and explains how this is different from the financial crisis of 2008. He also considers how big issues for banks can become big issues for everyone, with tighter lending standards having an impact on inflation and economic growth.
On top of manufacturing’s 11% contribution to U.S. GDP, many more companies ship, sell and service manufactured goods. This is why, according to IG Wealth Management’s Chief Investment Strategist, Philip Petursson, manufacturing data can tell us so much about the economy, including helping us to predict earnings growth and the direction of bonds.
Some ideas behind market seasonality, like “sell in May and go away”, the Santa Claus rally and the Halloween effect, still appeal to some investors looking to buy low and sell higher. IG Wealth Management’s Chief Investment Strategist, Philip Petursson explores the realities of historical returns and makes his suggestions for successfully navigating the markets between May and September.
This week, IG Wealth Management’s Chief Investment Strategist, Philip Petursson discusses the insights we can glean from earnings season. He explains how positive expectations don’t always mean good news and that we can use market expectations to our advantage, provided we tame our emotions.
The reserve currency status of the U.S. dollar is an advantage that has been helping America on the world stage since the end of World War 2. This week, IG Wealth Management’s Chief Investment Strategist, Philip Petursson shares reasons why the U.S. dollar has remained the world’s primary reserve currency. He also weighs the viability of other alternative currencies challenging its dominance.
While OPEC may not be as powerful as it was in the 1970s, it still wields a large influence over oil markets, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. He takes us through the history of the oil cartel and discusses how its recent decision to cut production could impact economic recovery and the loonie.
As the markets continue to be stormy, IG Wealth Management’s Chief Investment Strategist, Philip Petursson suggests an unlikely safe haven may have emerged: Big Tech. Current conditions seem to favour large tech firms; last month, as the majority of Nasdaq stocks lost value, Microsoft, Apple and Alphabet collectively gained by $634 billion.
Trending inflation data suggests that the Bank of Canada has succeeded in reducing inflation, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. However, while the markets are anticipating a rate cut later this year, Philip explains why he thinks this is unlikely.
Last week, Silicon Valley Bank collapsed, which led to some volatility in the markets. IG Wealth Management’s Chief Investment Strategist, Philip Petursson explains what caused the bank’s failure, how the U.S. Federal Reserve reacted, and why this is NOT like the Great Financial Crisis.
The Bank of Canada’s governor, Tiff Macklem, has a tough decision to make, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Keep rates stable and he’ll risk higher inflation; hike rates in line with the U.S. and he could slow down the economy even more.
It’s important to realize that some financial commentators use extreme language to get your attention; their views often lack evidence to back them up. IG Wealth Management’s Chief Investment Strategist, Philip Petursson, says it doesn’t matter what they think, it only matters what they can prove.
The labour markets in both the U.S. and Canada are proving to be much more resilient than expected. Nevertheless, IG Wealth Management’s Chief Investment Strategist, Philip Petursson believes that we could have both a strong job market and a recession, albeit one with a soft landing.
Investors often fall into two categories; pessimists and optimists, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. He believes that the optimists are in part driving the recent equity market rally, in the belief that interest rate cuts will happen later this year. The realist’s view is a little different, but bodes well for both pessimists and optimists.
People often ask the question: “Is now a good time to invest in the stock market?” IG Wealth Management’s Chief Investment Strategist, Philip Petursson, discusses the odds involved in successfully timing the market. He also explores the surprisingly small benefits of investing at the “right” time and why the best time could simply be when you have the money.
Both the S&P 500 (+6.2%) and the S&P/TSX (+7.1%) had a surprisingly strong first month of the year. IG Wealth Management’s Chief Investment Strategist, Philip Petursson, wonders if the “January barometer” and other favourable economic factors mean that equities will have an even better year than his team’s most optimistic predictions.
The Canadian dollar’s value compared to the U.S dollar is quite cyclical, but there are a couple of reasons why it can rise or fall in the short run, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. This week, he explains how the price of oil and the difference in Canadian and U.S. interest rates are likely to keep the loonie lower than was anticipated six months ago.
European stocks have long lagged behind US equities. However, IG Wealth Management’s Chief Investment Strategist, Philip Petursson, suggests that there are five compelling reasons to consider them, including much better valuations, strengthening currency, China reopening, falling inflation and growing confidence.
What kind of recovery can we expect the markets to make in 2023? On the Living Market this week, IG Wealth Management’s Chief Investment Strategist, Philip Petursson, considers several factors — continued conflict, rate hikes, inflation, earnings announcements — to answer that question. He says one thing markets hate is uncertainty, and there’s little of that left.
In this week’s Living Market, IG Wealth Management’s Chief Investment Strategist, Philip Petursson, looks back at the year in the markets and talks about what he got right, what he got wrong and what we can learn from it. He reminds us not to let what we wish to happen become what we expect to happen, and to always look at the data.
In this special edition of The Living Market, IG Wealth Management’s Philip Petursson, Chief Investment Strategist, and Christine Van Cauwenberghe, Head of Financial Planning, discuss this challenging year and how a real financial plan can bring investors more confidence, especially during turbulent times.
In this holiday-themed Living Market episode, IG Wealth Management’s Chief Investment Strategist, Philip Petursson, writes a letter to Santa. He wonders how inflation and supply chain shortages must have hampered Santa’s work this year and tells Santa what he wants this year.
In this week’s The Living Market, Philip Petursson, Chief Investment Strategist for IG Wealth Management, looks ahead at the likely peaks and troughs for 2023. These include the peaks of inflation, interest rates and asset class correlations, and the trough of equity markets, plus an improved outlook for fixed income.
From bearish to bullish, from fear to greed, this week Philip Petursson, Chief Investment Strategist for IG Wealth Management, looks at the different indicators of market sentiment. While this isn’t an exhaustive list, these indicators can hint at where the markets are heading.
It’s hard to believe that barely anybody wanted to touch the oil sector with a 10-foot pole a couple of years ago, says Philip Petursson, Chief Investment Strategist for IG Wealth Management. Prices have now seen a substantial increase from the low levels of 2020. In this episode of The Living Market, he considers which factors — such as production and surplus — will impact where oil is heading.
Philip Petursson, Chief Investment Strategist for IG Wealth Management, tells us that last Thursday, November 10, the S&P 500 Index gained 5.5% in one day. A one-day gain above 5% has only happened 20 times in the last 40 years. In this episode of The Living Market, he explores the reasons behind this very rare event and says there’s a disconnect between what happens on Wall Street and what happens on Main Street.
Philip Petursson, Chief Investment Strategist for IG Wealth Management explains why he believes inflation in Canada and the U.S. has already peaked (and that we’re close to peak interest rates) and why he expects inflation to fall to half its current level within the next 12 months.
Over the last 10 years, FAANG stocks — Facebook, Amazon, Apple, Netflix and Google — dominated the investor landscape, with a disproportionate influence over the S&P 500’s growth. That’s all changed now, says Philip Petursson, Chief Investment Strategist for IG Wealth Management. In 2022, FAANGs are no longer super growers, they’re mature giants, and valuation matters once more.
As with baseball hitters, over short periods, stock markets have streaks and slumps. In the last five years, performance streaked. However, says Chief Investment Strategist for IG Wealth Management, Philip Petursson, we need to focus on long-term historic averages to set realistic expectations.
Peeling back the layers of an onion is the process of exploring something more deeply to get a better understanding of it. Chief Investment Strategist for IG Wealth Management, Philip Petursson, uses this as a tool to analyze the different drivers that are causing inflation.
When markets go down hard and fast, investors can often experience grief. Chief Investment Strategist for IG Wealth Management, Philip Petursson, examines each stage of the process and compares the current and recent market crashes to determine where we are in the process.
This September was a bad month, as are most Septembers, says Chief Investment Strategist for IG Wealth Management, Philip Petursson. While the economic environment doesn’t look great, there is light at the end of this tunnel. Experience tells us that the stock market usually bottoms out before the economy does and bounces back a lot sooner. And current price-to-earnings ratios suggest that there is quality to be found in the markets at reasonable prices.
Chief Investment Strategist for IG Wealth Management, Philip Petursson, says, when interest rates were extremely low, profitless tech companies (the “high flyers” of the COVID-19-era) could finance themselves very cheaply, so their lack of profit generation was not a problem. Now, however, with rising interest rates and a slowing economy, profitable companies are massively outperforming these former high flyers.
Chief Investment Strategist for IG Wealth Management, Philip Petursson, says when global oil prices surged following the invasion of Ukraine, it led many to believe that commodity prices would continue to push inflation to elevated levels. Listen in as he explains that while investors and speculators get excited about geopolitical events, they rarely have a long-lasting impact on the markets. It’s therefore important to stay calm and not succumb to panic during these events.
Share buybacks — when companies buy back their own stock — effectively reduce the amount of a company’s shares on the market. Fewer shares lead to more value per share, boosting the stock price and creating higher demand for the stock. Chief Investment Strategist for IG Wealth Management, Philip Petursson, explores the potential impact on the markets of the U.S. government’s proposed 1% tax on stock buybacks.
Investors who stepped back from the markets over the summer have a lot of data to digest, says Chief Investment Strategist for IG Wealth Management, Philip Petursson. He gives an update on market activity for the last few months and discusses what is likely to happen during the remainder of 2022, including Canadian equities’ strong showing, healthy labour markets and opportunities in Europe and beyond.
Chief Investment Strategist for IG Wealth Management, Philip Petursson, says during a speech last Friday (August 26, 2022), U.S. Federal Reserve Chair, Jerome Powell reminded everyone that words are also a powerful policy tool: Philip says he thinks when the speech warned of “pain ahead,” that Powell knew exactly how markets would react. And the markets did react, with vigour. Listen in as Philp explores how, through the power of speech, Powell may have influenced markets just as effectively as if he hiked interest rates.
This week, Philip Petursson, Chief Investment Strategist for IG Wealth Management, deconstructs the Canadian dollar and examines where it should be, given its historical drivers (the global price of oil and Canadian-US interest rates). Listen in as Philip explains why he continues to believe the loonie is undervalued and is likely to rise as high as US$0.83 over the next six to 12 months.
Philip Petursson, Chief Investment Strategist for IG Wealth Management, says this summer has seen a nice equity market rally. At time of recording, he says the S&P 500 index has staged a healthy recovery off the low of June 16, 2022 by just over 17%. And while the index is still down year-to-date, we have seen a recovery over half of the downside since the start of the year. Listen in as Philip asks whether we have we turned corner on the market in economic pessimism and seen the bottom? And does this mean it’s all smooth sailing from here?
Back in 2001, emerging markets (particularly Brazil, Russia, India and China) were recognized as having all the ingredients to be attractive investment opportunities. But recently, emerging markets have underperformed. Philip Petursson, Chief Investment Strategist for IG Wealth Management, explores why this happened and whether China’s stimulus plans and low valuations can turn it around.
Philip Petursson, Chief Investment Strategist for IG Wealth Management, says monetary policy is not an exact science. It’s more like filling a bathtub with hot and cold water to try to reach the perfect temperature. The Bank of Canada’s recent 1% interest rate hike was more like dropping a block of ice into the bathtub. Listen in as Philip discusses whether weaker economic growth may be a side effect of the BoC’s determination to tame inflation.
Philip Petursson, Chief Investment Strategist for IG Wealth Management, says the online search for the word “recession” hit its highest level in 15 years during the week of June 12. Does this mean the U.S. economy is headed for a recession, or are people’s recession fears being stirred up by the media? Listen in as Philip investigates the data that would signal that a recession is imminent.
Energy makes up 8% of Canadian GDP and has a big impact on the loonie’s value relative to the U.S. dollar. Host Philip Petursson, Chief Investment Strategist for IG Wealth Management, explores reasons why crude is so high (including high demand, war in Ukraine and capacity limitations), and how this will affect Canada’s energy sector, the S&P/TSX Composite Index and the loonie.
Host Philip Petursson, Chief Investment Strategist for IG Wealth Management, says he’s not surprised about the evaluation correction, high inflation or the rising interest rate environment. He is, however, surprised by the magnitude of each and suspects that the majority of investors are equally surprised. Listen in as he discusses where we thought we’d be, where we are and where we’re going.
Host Philip Petursson, Chief Investment Strategist for IG Wealth Management, explains the rule of 20, a way of measuring whether the stock market is over- or undervalued. Listen in as Philip explores how the rule of 20 relates to current market activity, how markets are still considered overvalued (in spite of recent corrections) and the role that inflation plays in all of this.
The Bank of Canada’s decision to raise its benchmark interest rate to 1.5% came as no surprise, says host Philip Petursson, Chief Investment Strategist for IG Wealth Management. Its claim that it was willing to act more forcefully was more surprising. Listen in to find out why Philip believes further hikes may not be needed, given that inflation growth may peak in the summer.
While at a previous organization, host Philip Petursson (Chief Investment Strategist for IG Wealth Management) became aware that the mailroom was the hub for the company’s day-to-day information. If Philip wanted to know what was going on in the organization, he’d ask his friend in the mailroom. Listen in as Philip explains how corporate bonds can act like the equity markets’ mailroom.
A 2018 IMF research paper concluded that economists tend to miss predicting recessions, just as they tend to miss strong economic booms. Yet recessions don’t just happen out of the blue, they’ve historically been preceded by certain economic conditions. Listen in as Philip Petursson, Chief Investment Strategist for IG Wealth Management, discusses which economic conditions he pays attention to.
“I’m not talking about the beloved lake loon of cottage country, rather the Canadian dollar, which should be soaring alongside the price of oil, but seems to have lost its wings. What is happening to the loonie?” asks host Philip Petursson, Chief Investment Strategist for IG Wealth Management. He explains how the traditional correlations between the loonie and the U.S. dollar seem to be broken and discusses the other factors now at play. Listen to find out where he thinks the dollar is headed, as Philip navigates The Living Market.
“Corrections are uncomfortable. They’re supposed to be: They shake investor’s confidence and test their resolve, resetting expectations along the way,” says host Philip Petursson, Chief Investment Strategist for IG Wealth Management, in episode one. Listen in to his full exploration as he navigates The Living Market.