Josh Miszk

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Economic Update July 2017: Trust the Fundamentals

by Josh Miszk Last updated on August 02, 2017

With seemingly endless surprises coming out of Washington this past month, the lack of confidence in US politics has put pressure on the US dollar. In Canadian dollar terms, that pressure has manifested in weak returns across global developed markets.  

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Economic Update June 2017: Hawkish Central Banks Take a Bite Out of the USD

by Josh Miszk Last updated on July 07, 2017

In their local currencies, global equity markets were relatively flat in June (see Canada below). However, a devaluing US dollar and a stronger Canadian dollar were reflected in negative returns for Canadian portfolios. In this market update, we'll look at the cause of the devaluing US dollar, and what it could mean going forward. 

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Economic Update May 2017 - All Quiet on All Fronts

by Josh Miszk Last updated on June 01, 2017

Markets have continued to tread along, not disrupting the pace set over the past few months with the UK, Japan, and emerging markets showing the strongest returns. While fundamental data continues to support the rise, the real surprise is that this positive move has done so with little volatility.

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Economic Update April 2017 - Opening Borders

by Josh Miszk Last updated on May 04, 2017

Over the past 3 months, global markets have lifted thanks to solid fundamental indicators and positive sentiment. In this economic update, we’ll look at the news driving the returns, and discuss what Trump’s first 100 days in office can tell us about what to expect going forward.

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Economic Update March 2017 - The Signal and the Noise

by Josh Miszk Last updated on April 06, 2017

At first glance, it appears to many that the “Trump bump” finally subsided in March after shares in the US rose by 12% from the election to March 1st.

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Economic Update February 2017 - Tough on Trade

by Josh Miszk Last updated on March 02, 2017

Global Indices in February

Global markets were relatively flat with investors still undecided on whether to embrace growth in major markets or worry about state impact. Political uncertainty has marred the potential boost from positive global corporate earnings.

Index performance graph

*Equity Indices - FTSE Global Indices in CAD, Bonds - Barclays Global Aggregate Canadian Float Adjusted Board Index

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Economic Update January 2017: Clarity in Fundamentals During a Time of Uncertainty

by Josh Miszk Last updated on February 01, 2017

It seems as though the first thing on everyone's mind when thinking about January 2017 is the inauguration of Donald Trump and the effect his first few weeks in office have already made globally. Trump's 17 executive orders have stirred reactions which have lifted the Dow Jones Index past 20,000 for the first time, and have simultaneously launched more protests in two weeks than it seems possible to count. Where will this new source of volatility lead us, and what does the resulting unpredictability really mean for your portfolio?

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Invisor | 2016 Year In Review

by Josh Miszk Last updated on January 06, 2017

2016 was a year shaped by surprises and drastic changes in sentiment. How investors feel about the economy is what’s reflected in prices. While major equity markets had a generally positive 2016 – driven by strong US economic data and improving conditions in Europe – there was a lot of global negativity for equities going into the year, fueled by China’s slowing economy, dropping oil prices, and geo-political uncertainty. Investors had more cash parked on the sidelines than ever before. However, major equity markets had a positive 2016 climbing the walls of worry, mainly driven by strong economic data out of the US (jobs, in particular) and improving economic conditions in Europe.

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An Open Letter To Our Clients: How Does President Trump Impact Your Portfolio?

by Josh Miszk Last updated on November 10, 2016
The morning after the election, investors were understandably uncertain. We sent the following note to our clients to address any concerns:

After the polls called for a 70-90% likelihood of a Clinton victory, the world is surprised, to say the least. Investors don't like surprises, and the uncertainty that a Trump presidency brings is a recipe for amplified volatility. The market's reaction yesterday morning reeled back from the immediate knee-jerk reaction, but it paves the way for further volatility in the coming months. There are a few key changes we think will influence global markets. 

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Invisor | Economic Update - October 2016

by Josh Miszk Last updated on November 02, 2016

US federal elections are a week away and that means everyone’s favourite reality TV show is coming to an end. While the spotlight will shift away from American politics, we think US policy will still hold the attention of global markets. This month, we’ll take a look at the Canadian economic outlook, US election and interest rate decisions, and major global political threats.

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