Market Commentary

Making Cents of the Markets

Listen to this week’s Making Cents of the Markets on CKNW where Lori and Simi discussed the impact of the Suez Canal blockade on markets, and how to protect yourself from becoming a victim of investment fraud. Listen now here.

IMPORTANT TAX INFORMATION!

It’s everyone’s favourite time of year! The deadline for filing 2020 personal tax returns is April 30, 2021.

If your Canaccord documents (statements, etc.) are set up as electronic, you will need to find your tax slips through the online access portal using the following steps:

  1. Log in to your online access here:
    https://clientaccess.canaccord.com/Account/Login
  2. Select the third tab labelled eDocuments
  3. Under Document Type, select both Annual Fee Summary and Tax Information
  4. You will then be able to see any Canaccord generated tax documents to download if needed

If you have any questions, please give us a call directly at 604-695-5674 or email our team at pinkowski@cgf.com

Beyond the Markets

A fun way to hop into Spring while spending time with others is to do an activity over the phone – like dying Easter Eggs. Whether the Easter tradition is something new or something that makes you feel nostalgic, the craft is a great way to share the holiday with loved ones – even from afar! Check out some tips and techniques to make your eggs turn out great every time here.

Be in the Know

North American markets had a strong week led by the technology sector as fears of inflation dissipated and brought strength back to certain areas of the market that have lagged this year. We also saw strength in economically sensitive sectors as investors were pleased to see the ship dislodged from the Suez Canal and further encouraged later in the week by President Biden’s proposal for a $2 trillion infrastructure bill.

This proposal is significant as the plan is to spend this amount over 8 years, focusing on upgrading traditional infrastructure projects through clean energy and supply chain investments while creating millions of jobs in the process. Partial funding will come from 15 years of higher taxes including a reversal of Trump’s tax cuts as Biden hopes to increase the corporate tax rate to 28% from 21%. Democrats are expected to have to use the reconciliation process to bypass obtaining Republican support, although they will have to be fully aligned to push it across the finish line.

At home in Canada, we saw Canadian GDP rise 0.7% in January, beating expectations as we saw continued expansion in both services and manufacturing. We are optimistic that the overall economy will improve in line with vaccination rollouts with the main risk in the years ahead being Canadians taking on too much debt to chase the hot housing market. Low-interest rates and limited spending by consumers have improved most Canadians financial position, so this risk is likely years ahead as we continue to focus on the economic recovery.

Our Strategy

Our portfolio strategies had a good week with most of our positions outperforming the general markets and our balanced focus on growth and economic recovery themes doing well. Market conditions have improved in the last two weeks as ample government support and a recovering global economy support higher prices for the foreseeable future.

We continue to invest in leading stocks with a focus in Canada given the relative strength and weight towards commodities that should continue to benefit from the recovery. We wish everyone a wonderful and safe Easter weekend with your family!

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