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Thanks to COVID-19, Canada and the U.S. Are Now Dealing with Two Recessions

Are Both Canada and the U.S. in a Recession? Canada and the U.S. are both currently battling two recessions. The first is a short-term recession fueled by the coronavirus; eventually the number of infections and deaths will flatten, and a vaccine will be available. The second is a more traditional long-term economic slump; that one […]

Stocks Reported One of the Best Quarters Despite Awful Shape of U.S. and Canadian Economies

How Did Stocks Do in the Second Quarter? Despite the fact that the U.S. and Canadian economics tumbled into a COVID-19-fueled recession, U.S. stocks ended up having their best quarter in more than 20 years and are trading at or near record levels. Unfortunately, that investor optimism may be misplaced. The U.S. and Canadian economies […]

Canada Loses Triple-A Credit Rating as Finances and Economy Take a Beating from COVID-19

Why Did Canada Lose Its Triple-A Rating? Canada became the first major economy in the world to lose its coveted triple-A rating because of the COVID-19 fueled economic downturn. Now poised to post its largest deficit on record, the COVID-19 pandemic has sent the country into a recession and resulted in soaring unemployment, massive spending, […]

Has COVID-19 Permanently Damaged Large Parts of the Canadian Economy?

How Will COVID-19 Impact the Canadian Economy Long-Term? COVID-19 has most likely done permanent damage to the Canadian economy and left it in a big hole. The economic downturn has been historic with the sharpest GDP contraction in history. The biggest questions right now are, which sectors have been hit the hardest and what will […]

Canada’s Unemployment Rate Hits Record High with Rising Debt and Lower Savings Hurting Economic Growth

What Was Canada’s Unemployment Rate in May? The Canadian unemployment rate hit a record 3.7% in May as the economic shutdown from COVID-19 continues to hurt the Canadian economy. While this number is expected to drop as the Canadian economy opens up over the coming months, this may not be enough to save second and […]

Market Review – May 2020

In this month’s market review, our Chief Options Specialist, Jason Ayres, reflects on the May market conditions. The record-breaking rally in stocks continued throughout the month of April, with both the Canadian and U.S. markets recovering half of the losses incurred during the sell off in February and March. Since the market top halfway through […]

Canada’s Q1 GDP Plunges and Q2 Is Expected to Be Worse as COVID-19 Ravages Canadian Economy

How Did the Canadian Economy Perform in the First Quarter? Everyone knew that Canada’s first quarter gross domestic product (GDP) numbers were going to be bad. The question was how bad? And what’s in store for the Canadian economy and stocks for the rest of the year? Canada’s GDP tumbled 8% in the first quarter […]

Gold and Silver Remain Bullish on Poor Economic Data and Fears of a Second Wave of Coronavirus

Will Gold and Silver Continue to Rally? Precious metals like gold and silver have rallied since mid-March due to the coronavirus (COVID-19), awful global economic data, fears the global economy will not rebound quickly enough, and fears of a second wave of coronavirus. As a hedge against economic uncertainty, there are more than enough reasons […]