Megan Lisowski - Mar 31, 2023
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Market and Portfolio Update
Markets quickly rolled over at the end of February and into early March. At the time of our last e:Newsletter (March 13th), it looked like markets would hold. However, all the sectors that were leading, fell with the woes of possible rising rates. Then a couple weeks later further volatility came with the Silicon Valley Bank and as fear of contagions it could cause, expanded. Fortunately, the U.S. Federal Central Bank and Treasury Department quickly stepped in and looks to have appeased investors concerns. They protected depositors and intimated rates would not need to rise, or at least as fast as previously considered. The broader indexes have since improved, but most have not yet returned to their recent highs. But that cannot be said for all. Surprisingly, Growth Stocks and Gold have now already returned to their six month highs. It is there we focus.
We are in the Green Zone in all of our short and long term indicators right now. That may seem surprising given all the events and concerns in the world. There will be continued volatility, but with a close eye on currency, and maintaining tight stops, we can better navigate and take part in what is now the strongest part of the market. Thus, we have made a shift towards Growth stocks, those that took it hardest last year, as they are now climbing the wall of worry. How do we know that?
Canadian Federal Budget Review
On Wednesday, March 29, 2023, BMO Private Wealth held a client presentation featuring Doug Porter, BMO’s Chief Economist and Managing Director, and John Waters, BMO Private Wealth’s Vice-President and Director of Tax Consulting Services. They shared their insights on how the budget may affect the economic outlook over the next 12 months and an overview of the most significant personal and small business income tax measures announced.
Click here to access a recording of the presentation.
2023 Wealth Planning Facts and Figures
The 2023 Wealth Planning Facts and Figures is a helpful resource that summarizes important tax, retirement and estate planning information.
Please contact the office if you have any questions about the information contained in this document as it relates to your personal situation, or would like to discuss your wealth management plan.
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