Commentary Archives

Canso October 2025 Market Observer

We last left you in early July with the observation that the financial markets now seemed to thrive on and reward uncertainty. The equity and credit markets had plunged in March on the initial economic fears…

The S&P 500 has been Flying High; Now May be the Time to Diversify

US Market is Flying High The S&P 500 Index1 (“S&P 500” or the “Index”) has been on a tear. As of August 31, 2025, the Index hit an all-time high returning 9.8%, year-to-date, after it returned…

Canso July 2025 Corporate Bond Newsletter

Steep Learning Curve Interest rates have been on the rise since the end of the first quarter, particularly in the long-end of the curve. From March 31st until time of writing, Canadian long bonds have risen 66…

Patient Capital Quarterly Commentary – Q2 2025

North American equity markets delivered robust, though volatile, performance through the second quarter of 2025, buoyed by resilient economic data, moderating inflation, and increasing investor confidence in a potential soft landing. Despite a sharp sell-off in…

Canso July 2025 Market Observer

Uncertainty Breeds Market Contempt The theme of our April 2025 Market Observer was that only a fool would try to predict what would happen to the financial markets and the global economies after Donald Trump declared his Tariff…

Corporate Bonds or Government Bonds – What should a risk-averse investor choose in a balanced portfolio?

The Corporate Bond Trifecta One of the most basic choices for investors when building a balanced portfolio is whether to invest in government bonds or corporate bonds1. Intuitively, the thought is government bonds are more appropriate…

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