Q4 Capital Markets Review
Both global equities and fixed income appreciated strongly during Q4 and delivered impressive returns for full year 2025. Tariff uncertainty continued to abate with the impact on inflation and corporate earnings much lower than initially feared. US economic growth continued to rebound strongly follo
CAD December Market Commentary
Noteworthy Developments: Global equities (MSCI ACWI Index) declined 0.8% in December in CAD. However, the decline was due tocurrency translation, as CAD strengthened by 1.8% relative to the USD. In USD terms, the ACWI Index appreciated by 1.0%, with regional performance varying. Global Equities: Glo
USD December Market Commentary
Noteworthy Developments: Global equities advanced in December, led by international markets and value-oriented sectors, while US large-cap equities remained flat. Global Equities: Global equities rose 1.0% during December, as measured by the MSCI ACWI Index. US large-cap equities (S&P 500) were
