October 2016 Commentary

Market fears that positive inflation statistics and stingy central bankers would combine to finally end the 35 year bull market in bonds fueled further sector rotation in stock markets during October. Down 2.9%, bonds had their worst month since May 2013 when Bernanke signaled that the Fed might slow down its purchasing of bonds. With shares in bank stocks benefitting from this “rate shock”, and with oil equities gaining on the hype of an OPEC cut, the TSX advanced during October, despite a decline in the majority of the various index components. In the US, all indices declined. So did the Forge First funds...

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