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COMMENT
COMMENT
May 14, 2019
Neither China nor the US benefit from the current tariffs and trade war, and the whole thing is complex. Last week was surprising, since the market expected a deal. True, it was unrealistic to expect all trade issues to be resolved in a single agreement. Trump's new tariffs don't kick in for a few weeks. Who knows what will happen. Monitor it. The strong recovery since December was due to an expected trade deal; the US Fed turned dovish; US data is strong; and earnings were much stronger than expected. So, one factor has done south and we'll see how that effects the three others
Neither China nor the US benefit from the current tariffs and trade war, and the whole thing is complex. Last week was surprising, since the market expected a deal. True, it was unrealistic to expect all trade issues to be resolved in a single agreement. Trump's new tariffs don't kick in for a few weeks. Who knows what will happen. Monitor it. The strong recovery since December was due to an expected trade deal; the US Fed turned dovish; US data is strong; and earnings were much stronger than expected. So, one factor has done south and we'll see how that effects the three others
Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
COMMENT
COMMENT
May 14, 2019
This market is bouncing along the rim like the Raptors' buzzer-beater and it will fall through the hoop and score. This spring, company earnings beat the street in the U.S. and exceeded expectations, which is good. Trump lives and dies by the Dow's performance to get re-elected in 2020. Surprisingly, the TSX has been quiet compared to New York. Remember: America buys far more from China than vice versa. China will devalue the yuan which will stimulate their economy. That'll be interesting to see. The Fed has already taken a lot of treasuries off the book, so it's not the weapon they said it was. Ultimately, the trade war will resolve itself, perhaps not this week.
This market is bouncing along the rim like the Raptors' buzzer-beater and it will fall through the hoop and score. This spring, company earnings beat the street in the U.S. and exceeded expectations, which is good. Trump lives and dies by the Dow's performance to get re-elected in 2020. Surprisingly, the TSX has been quiet compared to New York. Remember: America buys far more from China than vice versa. China will devalue the yuan which will stimulate their economy. That'll be interesting to see. The Fed has already taken a lot of treasuries off the book, so it's not the weapon they said it was. Ultimately, the trade war will resolve itself, perhaps not this week.
Mike S. Newton, CIM FCSI
Director & Portfolio Manager, Scotia Wealth Management
COMMENT
COMMENT
May 14, 2019
Will the bubble burst with all this QE worldwide? And your thoughts on inflation? "Burst" is too strong. Rather it will be a slow unwind, as we patch the cracks that appear. He's very concerned. Deflation is happening in tech, but inflation is happening in other areas, which adds to being slightly positive, not massively inflationary or deflationary.
Will the bubble burst with all this QE worldwide? And your thoughts on inflation? "Burst" is too strong. Rather it will be a slow unwind, as we patch the cracks that appear. He's very concerned. Deflation is happening in tech, but inflation is happening in other areas, which adds to being slightly positive, not massively inflationary or deflationary.
Mike S. Newton, CIM FCSI
Director & Portfolio Manager, Scotia Wealth Management