Diamond

Last week was another stretch of decreased optimism in American equity markets with the S&P 500, DOW, and NASDAQ losing ground for the week.  After two months of historic gains following the US elections, the wave appears to have crested, at least temporarily.

President Trump stated in his inaugural address, “we will build new roads and highways and bridges and airports and tunnels and railways all across our wonderful nation.” However, the promise of increased infrastructure spending and the associated jobs and economic growth has not been specifically articulated and markets are hovering in the US as investors await details.

In Canada, the TSX had another healthy week defying the growing concerns south of the border. Stephen Poloz, Governor of the Bank of Canada, held Canadian interest rates firm. He indicated that rate reductions could occur if Trump’s protectionist trade policies hurt our economy. Meanwhile, Janet Yellen, US Federal Reserve Chair, indicated that the Fed’s plans for gradual interest rate increases is still the plan of action for 2017 since consumer prices are increasing at a growing rate.

According to the Canadian Real Estate Association, Canadian home prices grew at 10.5% in 2016 with the average price just above $490,000. An article posted by CNN stated that Vancouver was the second most expensive housing market in the world (tied with Sydney, Australia and behind only Hong Kong, China).

Enjoy what could be the last of our unseasonably warm weather.

Kevin

 

“I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of Harbourfront Wealth Management. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by Harbourfront Wealth Management Inc.”Disclaimer – This information transmitted is intended to provide general guidance on matters of interest for the personal use of the reader who accepts full responsibility for its use, and is not to be considered a definitive analysis of the law and factual situation of any particular individual or entity.  As such, it should not be used as a substitute for consultation with a professional accounting, tax, legal or other professional advisor.  Laws and regulations are continually changing and their application and impact can vary widely based on the specific facts involved and will vary based on the particular situation of an individual or entity. Prior to making any decision or taking any action, you should consult with a professional advisor. The information is provided with the understanding that Harbourfront Wealth Management is not herein engaged in rendering legal, accounting, tax or other professional advice.  While we have made every attempt to ensure the information contained in this document is reliable, Harbourfront Wealth Management is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information is provided “as is,” with no guarantee of completeness, accuracy, timeliness or as to the outcome to be obtained from the use of this information, and is without warranty of any kind, express or implied. The opinions expressed herein do not necessarily reflect those of Harbourfront Wealth Management Inc. The particulars contained herein were obtained from sources we believe to be reliable, but are not guaranteed by us and may be incomplete.  The opinions expressed are not to be construed as a solicitation or offer to buy or sell any securities mentioned herein. Harbourfront or any of its connected or related parties may act as financial advisor or fiscal agent for certain companies mentioned herein and may receive remuneration for its services. Harbourfront Wealth Management Inc. is a member of the Investment Industry Regulatory Organization of Canada “IIROC” and the Canadian Investor Protection Fund “CIPF”.

 

 

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