The Living Market Podcast

What’s driving the post-U.S. election wild ride?

Markets have been on a wild ride since the U.S. election results, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. The S&P 500 reached a new high, bitcoin mania is back, and credit spreads are reaching levels not seen in over a decade. However, Ashish believes that markets are too eager to price in the benefits while ignoring the risks. He explains the differences in market conditions between the beginning of Trump’s first and second terms, and why he recommends a more cautious approach.

Making sense of the market’s post-election reaction

IG Wealth Management’s Chief Investment Strategist, Philip Petursson discusses the most important things to understand to make sense of the market’s reaction to the U.S. election results. He explains how the post-election period has historically been a favourable time for the stock market, and how tax cuts, trade tariffs and futures are likely to pan out. He also provides three key take-aways around equity performance, long bond yields and U.S./Canadian dollar valuations.

How to be tax smart with your donations

The end of the year is often a time when investors think about ways to minimize next year’s tax bill, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. In this special edition of the podcast, Philip and his guest, IG’s Aurèle Courcelles, Assistant Vice-President, Tax and Estate Planning, explain how to make tax-efficient charitable donations. Aurèle discusses how to reduce your tax bill with in-kind donations, life insurance donations and charitable foundations.

Will this jumbo rate cut be followed by more?

Canadian consumers have been in need of some serious interest rate relief, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson, and the Bank of Canada gave them just that this week, with a half-a-percentage-point rate cut. While this came as little surprise (markets had been pricing in this rate cut for a couple of weeks) it was still very welcome. Philip explains what this will mean for mortgage holders, the loonie and the economy, and what kind of cuts we might expect going forward.

How tariffs could damage the U.S. economy

If elected, Donald Trump is promising to impose higher tariffs on imports from China and other countries, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. Tariffs are designed to protect domestic industries, incentivize change in foreign countries and generate revenue for the U.S. federal government. However, as Ashish explains, there are several negative side effects to tariffs that could have a significant impact on the U.S. economy in 2025.  

Will the Bank of Canada surprise with a high rate cut?

In the Bank of Canada’s (BoC) next meeting, a larger-than-previously-expected rate cut of 0.5 percentage points is likely, says Pierre-Benoît Gauthier, Vice-President, Investment Strategy at IG Wealth Management. Given that inflation has been tamed (it’s now down to 2% — or 0.5% if you cut out shelter costs) and the economy has stalled in the last couple of years, it makes sense that the BoC will surprise us with a larger rate cut. Pierre-Benoît explains what this will mean for investors.

Signs of optimism from the third quarter

In his review of the third quarter of the year, IG Wealth Management’s Chief Investment Strategist, Philip Petursson delves into the reasons behind investors’ growing enthusiasm for higher-risk investments. He also gives an overview of the quarter’s highlights, including Canadian, European and (finally) U.S. central banks cutting interest rates (having won the battle with inflation); the shift to supporting weakening labour markets; the effects of Chinese stimulus measures; and the likely impact of the upcoming American elections.

China gets serious about the economy

China is finally getting serious about its economy and its stock market, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. After seeing Chinese stocks lose $6 trillion in value over the last three years, the People’s Bank of China has just announced some significant policies aimed at giving its ailing stock market a huge boost. Philip discusses whether these policies will be enough to make a difference and asks, if they do succeed, what will the consequences be for other world economies?

Does a return to yield curve normalcy indicate a recession?

The longest inverted yield curve in history is finally coming to an end, says Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management. An inverted yield curve is when long-term bonds have lower yields than short-term bonds (an unnatural situation, given that long-term bonds are riskier and therefore typically provide a higher return). Ashish explains what the end of an inverted yield curve has historically meant for the markets and whether it could signal an upcoming recession.

Will a large interest rate cut have the right effect?

The U.S. Federal Reserve (the Fed) needs to tread carefully with any upcoming rate cuts, says IG Wealth Management’s Chief Investment Strategist, Philip Petursson. Many financial commentators are expecting a significant cut (of 50 basis points) because of weakening economic data and a more volatile market. However, Philip asks, will a large rate cut have the right effect? He argues that it’s not the Fed’s job to soothe the markets and that we should keep rate cut expectations real.