From the Desk of Our CIO
Is It Time to Start Buying Duration?
At Viewpoint, we’ve been in the camp that the current macroeconomic backdrop isn’t conducive to the Federal Reserve (Fed) being able to skirt a recession and reduce interest rates back to a long-term equilibrium, all while inflation remains under control. This is what would otherwise be known as a “soft landing.” Back in March, I […]
From the Desk of Our CIO
The Buzz on Beans: From Cocoa to Coffee
The astonishing run for cocoa prices has yet to lose steam, with the commodity rising by +21.6% over the month of April, bringing the year-to-date gain to +223.3% as of April 19th. I wrote a note a little over a month ago about the supply issues in the cocoa industry that have caused the parabolic move […]
From the Desk of Our CIO
From Missiles to Metals: Market Volatility in the Face of Geopolitical Tensions
The initial shock from the retaliatory attack on Israel by Iran over the weekend had been well absorbed by markets when trading opened this morning. But as the day progressed, the prospects of rising geopolitical tensions weighed on risk appetite. The communication from Iran was that the barrage of ballistic, drone, and cruise missiles was […]
From the Desk of Our CIO
Economic Crossroads: Inflation, Oil Markets, and Central Bank Dilemmas
Financial markets hit another speed bump this morning, with U.S. inflation coming in warmer than anticipated. Both headline and core consumer prices surprised to the upside, with headline CPI increasing by +3.5% relative to one year ago, missing expectations of a +3.4% increase and up from February’s +3.2% reading. Housing and gasoline costs contributed more […]
From the Desk of Our CIO
Trump, Trade, and the Greenback
Friday’s blockbuster U.S. employment report may have upended the bond market’s optimism that monetary policy easing will begin in June as the labour market in the U.S. refuses to soften. The U.S. labour market added 303k new jobs in March, close to 100k more than had been expected. The unemployment rate fell to +3.8% from […]
From the Desk of Our CIO
Insights from The Francis Sabourin Hour Podcast
Check out this great podcast from The Francis Sabourin Hour Podcast! “We seem to be in the first few years of the latest commodities super-cycle.” Join me as I step into the world of commodities with Francis Sabourin on his podcast, The Francis Sabourin Hour (March 14th, 2024 edition). Tune in as we unravel where we […]
News & Insights
Nurturing Responsible Wealth Inheritors
One of the great challenges that all parents face is how to raise independent, self-sufficient, motivated kids. This concern can be exacerbated among families of affluence, as inherited wealth comes with its own opportunities, challenges, and pitfalls. For individuals who have created wealth through entrepreneurial endeavours, hard work, and risk taking, the fear of how […]
News & Insights
Unraveling Market Mysteries One Equation at a Time
Using Greek letters, numbers, and equations to describe the world is strange. Before I embarked on a near decade-long academic pursuit in the field of theoretical physics, I distinctly remember thinking about this peculiarity while sitting in my high school physics class staring at Newton’s laws of kinematics. It really is strange that we have […]
From the Desk of Our CIO
Fed Takes International Day of Happiness to Heart
The Federal Open Market Committee (FOMC) concluded their March meeting today and, as expected, left interest rates unchanged at 5.25%-5.50%. Given that this was widely anticipated, market participants looked through the main interest rate announcement and took their cues from Jerome Powell’s press conference and updates to the FOMC “dot plot,” which on balance were […]