Market Commentary

Making Cents of the Markets

New episode of Ready.Set.Retire! Lori and Jon are joined again by lawyer Rose Shawlee as they dive deep into Part 2 of their discussion on Wills and Estates. Listen as Rose provides important legal insights on strategic legacy planning, proactive tax preparation, asset distribution, and the peaceful transition of wealth. Listen here.

Listen to this week’s Making Cents of the Markets on CKNW where we talked about real estate as an investment, fraud prevention, and common mistakes made when planning your estate! Check it out here.

Beyond the Markets

One positive thing that has come from this year is the vast creativity shown by businesses as they innovate and continue to serve us. Our current favourite is an at-home wine tasting offered by Little Engine Winery coming out of Penticton BC!

Last year the winery created two tasting packages that could be shipped straight to wine enthusiasts’ doorsteps. The merlot, pinot noir and chardonnay from Little Engine’s gold label range and chardonnay, pinot noir and a red blend from its silver make up the menu offered. As you sip from home, you can see each wine introduced with accompanying videos that were created, available here.

So be sure to stop and smell the rose as you sit back, relax, and enjoy a glass or two from home!

Be in the Know

North American markets finished on a strong note after another choppy week after President Joe Biden announced a new goal of having 200 million Covid vaccination shots being distributed within his first 100 days in office. Gains were broad-based across most sectors as fears of rising inflation continue to ease after recent data showed tamed price pressures. Softer than expected inflation should ease rising interest rate concerns as central banks have reiterated their ongoing support for economies for years to come.

We were pleased to see markets bounce back after some volatility coming from a recent uptick in Covid cases and a blockage of the Suez Canal as a container ship remains stuck. Over 200 vessels are held up with many considering alternative routes as it may take days or even weeks before trade resumes. The canal handles around 12% of global seaborne trade, and with each day of blockage disrupting more than $9 billion worth of goods, we hope that solutions are found soon to reduce the impact on global trade.

Economic data was light in Canada with the only notable event being that the Bank of Canada announcing that it would wind down several emergency liquidity programs which was largely expected to occur as the economy improves. In the US, we saw continued expansion in manufacturing and services that reaffirmed our confidence in the US economy as their vaccine rollout has been impressive. Next week our focus shifts towards global manufacturing that will help us gauge the pace of the recovery in light of reaccelerating cases.

Our Strategy

North American markets finished on a strong note after another choppy week after President Joe Biden announced a new goal of having 200 million Covid vaccination shots being distributed within his first 100 days in office. Gains were broad-based across most sectors as fears of rising inflation continue to ease after recent data showed tamed price pressures. Softer than expected inflation should ease rising interest rate concerns as central banks have reiterated their ongoing support for economies for years to come.

We were pleased to see markets bounce back after some volatility coming from a recent uptick in Covid cases and a blockage of the Suez Canal as a container ship remains stuck. Over 200 vessels are held up with many considering alternative routes as it may take days or even weeks before trade resumes. The canal handles around 12% of global seaborne trade, and with each day of blockage disrupting more than $9 billion worth of goods, we hope that solutions are found soon to reduce the impact on global trade.

Economic data was light in Canada with the only notable event being that the Bank of Canada announcing that it would wind down several emergency liquidity programs which was largely expected to occur as the economy improves. In the US, we saw continued expansion in manufacturing and services that reaffirmed our confidence in the US economy as their vaccine rollout has been impressive. Next week our focus shifts towards global manufacturing that will help us gauge the pace of the recovery in light of reaccelerating cases.

Visual of the Week

The comments and opinions expressed in this newsletter are solely the work of Pinkowski Wealth Management, not an official publication of Canaccord Genuity Corp., and may differ from the opinion of Canaccord Genuity Corp’s. Research Department. Accordingly, they should not be considered as representative of Canaccord Genuity Corp’s. beliefs, opinions or recommendations. All information is given as of the date appearing in this newsletter, is for general information only, does not constitute legal or tax advice, and the author Pinkowski Wealth Management does not assume any obligation to update it or to advise on further developments related. All information included herein has been compiled from sources believed to be reliable, but its accuracy and completeness is not guaranteed, nor in providing it do the author or Canaccord Genuity Corp. assume any liability.

CANACCORD GENUITY WEALTH MANAGEMENT IS A DIVISION OF CANACCORD GENUITY CORP., MEMBER-CANADIAN INVESTOR PROTECTION FUND AND THE INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA