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Michael Sprung’s Outlook & Top Picks on BNNBloomberg’s Market Call – October 22, 2019

I write this outlook on the day of the federal election. While the immediate aftermath may cause some investors concern, in the long term it’s fundamentals that drive markets. Hopefully, politicians will take some concrete action to make our country a desirable destination for capital and investment. [+] Read More

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THIRD QUARTER 2019 RETROSPECTIVE AND PROSPECTIVE

Economies are the cumulative reflection of the myriad of transactions taking place every day. In order for a transaction to take place, there must be a buyer and a seller. Both parties to the transaction believe that they are receiving adequate compensation, no matter on which side of the trade they reside. In financial markets, buyers and sellers are expressing differing expectations for the object being sold. Markets have continued to rise for a long period of time, indicative of there being more optimism that economic conditions will continue to improve. [+] Read More

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Michael Sprung’s Outlook and Top Picks on BNN Bloomberg’s Market Call

Trade issues continue to cloud the economic outlook as the tariffs constrain spending and companies seek alternative supply routes in their attempts to minimize the higher costs resulting from the implemetation of the tariffs. Geopolitical issues are contributing to the growing uncertainty as we face federal elections year in Canada and the US, turmoil in the UK with respect to Brexit and increasing tensions the Asia (Hong Kong) and the Middle East.
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BNN Bloomberg Market Call – Michael Sprung’s Top Picks and Outlook, July 24, 2019

MARKET OUTLOOK Global trade conflicts are beginning to impact economic outcomes in very fundamental ways. The disruption is evident in both the bond and equity markets. In the second quarter, markets reflected the fear and uncertainty investors are facing. This has been most evident in bonds, with 10-year U.S. Treasury notes repeatedly indicating expectations of … [+] Read More

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SECOND QUARTER 2019 RETROSPECTIVE AND PROSPECTIVE – The Times They Are A-Changin’

Global conflicts in trade are beginning to impact economic outcomes in very fundamental ways. The disruption resulting from these trade skirmishes is evident in both the bond and equity markets. The times they are a-changin’…

In Canada, the S&P/TSX Total Return Index advanced 2.6% in the second quarter of 2019, bringing the year to date to 16.3%. The US market advanced 4.3% in the quarter as measured by the US dollar denominated S&P 500 Total Return Index. The S&P 400 MidCap Total Return Index lagged the 500 with a 3.0% return in this quarter. Markets represented by the MSCI EAFE Price Return index posted a positive 2.5% return as measured in US dollars or a 0.5% return in Canadian dollars. The Canadian dollar appreciated 2.2% to its US counterpart in Q2.
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Michael Sprung’s Top Picks – BNN Bloomberg Market Call, June 17, 2019

Global economic growth will continue to deteriorate over the remainder of 2019 as trade conflicts are having an effect on fundamental economic events. Evidence of the impact of the disruption caused by these trade concerns can be seen in the bond market where rates are reflecting higher expectations of a slowdown and in the increasing volatility in the equity markets. [+] Read More

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Michael Sprung’s Outlook and Top Picks on BNN Bloomberg’s Market Call

After a dismal end to last year, global stock markets rebounded in the first quarter making up much of the ground lost in the final quarter of 2018. The underpinnings of this sudden reversal in sentiment are less clear. There appears to be a disconnect between the direction of the stock markets and the direction of the global economies. Economists continue to moderate the outlook for future economic growth. The issues that vexed the markets in 2018 remain and in many cases, those issues have deteriorated even further.
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FIRST QUARTER 2019 RETROSPECTIVE AND PROSPECTIVE – What a difference a quarter makes!

After a dismal end to last year, global stock markets rebounded in the first quarter making up much of the ground lost in the final quarter of 2018. The underpinnings of this sudden reversal in sentiment are less clear. There appears to be a disconnect between the direction of the stock markets and the direction of the global economies. Economists continue to moderate the outlook for future economic growth. The issues that vexed the markets in 2018 remain and in many cases, those issues have deteriorated even further. [+] Read More