Global equity markets moved higher over the month of July. Investor sentiment was largely positive as economic data pointed to the strong likelihood of the global economy avoiding a recession this year. Still, returns were muted as global central banks lifted rates and economic data was largely unimpressive. The U.S. Federal Reserve Board (“Fed”), Bank of Canada (“BoC”) and European Central Bank (“ECB”) all raised interest rates by 25 basis points (“bps”) over the month. Business activity was relatively subdued in many parts of the world, as measured by manufacturing and services sector activity, largely hindered by waning consumer and business demand.
In Canada, the S&P/TSX Composite Index advanced over the month, benefiting from the relatively strong performance of the Health Care sector. U.S. equities, as measured by the MSCI USA Index, also rose higher over July. Yields on 10-year government bonds in Canada and the U.S. edged higher. In commodities markets, the price of oil posted a double-digit gain, while gold prices also ticked higher.
Shifting global markets, rising inflation and geopolitical tensions – learn more about the forces shaping…
Markets faced a shifting backdrop in March, with global tensions and economic data challenging assumptions…
February was defined by tensions, tariffs, trade talk and shifting rate paths. See how these…
anuary markets reflected shifting trade dynamics, persistent inflation, and rising global risk – all building pressure beneath…
Global markets ended 2025 on a cautious upswing, with resilient North American growth, soft demand…
We would like to take this opportunity to express thanks and gratitude to our associates,…