Commentary Archives

Patient Capital Quarterly Commentary – Q1 2023

The first quarter of 2023 saw global equity markets continue their positive momentum. The MSCI (USD) World Index rose 7.88%1, the S&P 500 (USD) posted a positive return of 7.50%2 and the S&P/TSX Composite Index increased…

Why the Recent Financial Asset Price Volatility Will Likely Continue

Ian Marthinsen, CFA, MBA

INFLATION AND FINANCIAL ASSET PRICES Wild swings in asset prices have seemed to have become the norm in financial markets lately, even in supposedly “safe” asset classes such as fixed income. The source of this volatility…

Fulcra Commentary – April 2023

Sublime Comparing yields of US corporate bonds (Investment Grade (“IG”) and High Yield (“HY”)) at the end of last year to the end of March 2023, an investor could not be faulted for thinking much had…

Canso Market Observer – April 2023

A Simpering, Whimpering Market Again?? We’ve used this musical theme in another Market Observer, but we can’t help using it again. One would think that Ella Fitzgerald was singing about our current financial markets: “I’m wild…

Slater Quarterly Recap – April 2023

The Canadian Preferred Share market started off strongly in January, but then lost some ground in February and March. Overall however, the S&P/TSX Preferred Share Total Return Index (the “Index”) posted a 2.27% gain in the…

Canso Corporate Bond Newsletter – April 2023

The Dance The year began with swift optimism. Equity markets quickstepped higher, while credit spreads swung tighter. Buyers lined up to purchase new bonds from both investment grade and non-investment grade issuers. In sequence, investors who…

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