NO DEAL –
NEXT STEPS –
WHAT TRADE IMBALANCE? –
NAVIGATING THE FALLOUT –
SEPTEMBER STORM –
THE FLAWED IRANIAN STRATEGY –
THE KYIV RED-HERRING THEORY –
CALM VERSUS CHAOS

As we cross the half-way point in 2026, the Canadian economy feels a lot like Charles Dicken’s “A Tale of Two Cities.” The split in the macro-backdrop is sharper than at any point since the post‑pandemic reopening. Raw materials, energy and most USMCA compliant export...

• THE MAGNIFICENT TECH JUNE 5TH SELL-OFF
• AI MEGA-CYCLE INTACT, BUT WITH MORE VOLATILITY
• RISK MULTIPLICITY
• OIL HOLDS NEAR $100 AS TENSIONS PERSIST
• BIOTECH BREAKOUTS AND THE GLP‑1 ARMS RACE
• BITCOIN BREAKS

• OUTSIDE THE INCOME BOX
• THE INFLATION RECESSION DEBATE
• CUSMA RE-NEGOTIATIONS
• DE-BUNKING CONSPIRACY THEORIES

MIDDLE EAST CONFLICT It’s funny how certain thoughts surface as impactful headlines break into the news cycle. When the U.S. partnered with Israel to attack Iran, I was reminded of a December 1971 article published in U.S. News & World Report. It was an interview...

Calling 2025 a “good year” for gold would be a considerable understatement. It was more a full‑blown victory parade. Up more than 60% year over year, cracking fifty all‑time new highs in the process, gold is more expensive (inflation‑adjusted) than at almost any...

In November, U.S. hyper-scalers saw their stocks sell off despite posting earnings that exceeded expectations. The downturn was largely attributed to investor unease over the massive capital outlays tied to A.I. data center expansion. Analysts are now asking the...

MID 2025 OUTLOOK Cue the music as we pay homage to the Eagle’s classic Hotel California. Where the ‘dark desert highway’ leads to a shimmering light cascading on an economic labyrinth that could be heaven or hell! Enter the Tiffany-twisted consumer and her pretty,...

Trying to make investment decisions while operating in a vacuous state is like trying to win at poker with a deck that keeps reshuffling itself mid-hand. A stray comment from a central banker, a vague tweet from a billionaire President, haphazard tariff headlines and...

The forecasting business is premised on the position that “what-was-will-continue-to-be!” Within that framework, economists review historical precedents and assign probabilities to potential outcomes. The idea that predicting macro-economic outcomes is more art than...