Insights

August, a Month of Extremes

Negative Rates in Europe

Portfolio Optimization Using Risk Factor Investing

Trading and Market Structure

Responsible Investment Solutions

Asia Deserves Some Credit

Fed’s Impact on Financial Markets

Infrastructure Investments

Canadian Small Caps

High Yield Bonds YTD

Risk Management Techniques

Three Stocks to Watch for Long-term Investors

Trade War Impacts

Fiera’s Approach to Canadian Equities

Responsible Investing

Q1 Market Review

Market Update and Opportunities

Why Inflation Expectations Matter

Managing market risk in investment portfolios

The Fed Balance Sheet 101

Inside Look: Private Equity

Alternative Investments In Your Portfolio

Small Cap Stocks: Opportunities on the Horizon

Stable income in an uncertain environment

2019 rates and central bank actions

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Market Update - January 2020

FROM THE GLOBAL CIO OFFICE - By Candice Bangsund, Vice President and Portfolio Manager, Global Asset Allocation

MuniciPolitics

It might be surprising to some bond investors that Quebec municipalities cannot run deficits, and generally issue debt under only two scenarios: To refinance…

Global Investment Outlook 2020

2020 Outlook: Receding Risks Revitalize the Global Economy. From the Global CIO Office by Candice Bangsund.

Market Update - December 2019

FROM THE GLOBAL CIO OFFICE - By Candice Bangsund, Vice President and Portfolio Manager, Global Asset Allocation

Fixed Income Year-in-Review

Five themes you may (or may not) have noticed in 2019’s fixed income markets.

When Doves Cry

Bank of Canada Governor Stephen Poloz has been notably hawkish this year, refusing to lower rates despite that being the trend among major central bank. That…

Market Update - November 2019

Risk appetite prevailed once again in November as investors embraced some favourable developments on the trade, political, and global growth fronts

I, trading bot.

It’s no secret that the vast majority of equity trading takes place electronically these days, and some investors might assume that it’s the same case in the…

Albertan debt: the good, the bad and the opportunity

The Good: In 2004, Alberta was a debt-free province, but in the ensuing years, governments saw an opportunity to get elected by promising to spend more and…

Rumours, facts, and fads

Since mid-August, Canadian bond market participants have dramatically reduced their expectations for interest rate cuts, and along with that, we’ve witnessed a…

Corporations’ dead pledge

The great deleveraging that was supposed to sweep over corporate America is dead. Normally, we’d expect corporations to reduce leverage at the tail end of…

Market Update - October 2019

FROM THE GLOBAL CIO OFFICE - By Candice Bangsund, Vice President and Portfolio Manager, Global Asset Allocation

The divine tailwinds

Last Monday, the Bank of Japan (BoJ) announced that it would cut its bond buying program, an initiative which has been the hallmark of BoJ policy since…

Central Bank Roundup

September has been an interesting month to say the least:  The U.S. and China traded more blows in their trade war; Boris Johnson’s prorogation of British…

Quebec’s budget success story

The Quebec government has the largest provincial debt load in Canada. In 2013, it reached a peak of 54% of the province’s GDP, compared to 45% in Ontario and…

The repo market gets a tune-Up

For the past two days, a usually under-the-radar part of the financial system has dominated headlines. The funding rate on collateral repurchase agreements –…

Powell's got a friend...

Last week, the Bank of Canada announced – unsurprisingly – that it was keeping its policy rate unchanged.

Market Update - September 2019

FROM THE GLOBAL CIO OFFICE - By Candice Bangsund, Vice President and Portfolio Manager, Global Asset Allocation

August extremes

To BBB or not to BBB

Looking at BBB-rated corporate bonds in Canada, one might think they could be closely tied with the direction of rates.  Traditionally, lower rates precede an…

Take me out to the Bund game

Last week, we had a first in bond history; the Germany Finance Agency swung for the fences, auctioning off €2 billion of a 30-year Bund with a zero coupon and…

Bonds, gold, and cake

Recently, we’ve noticed an odd pattern in the bond market wherein bond prices rise sharply on bad days for risk assets (equities), but on equally good days…

Ontario debt woes

In its 2019-20 budget released on April 11th, the Province of Ontario announced an expected budget deficit of $10.3 billion and a change to certain transfers…

Fear Versus Fundamentals

Our Global CIO team has attempted to look past the noise and volatility of recent days to construct a fundamental-based outlook for the market. You can read…

Diverging central banks

In early June, Canadian benchmark rates hit new lows for the year, as the possibility of new tariffs on Mexican goods scared investors…