Weekly Market Update
Feb 24, 2021

Weekly Market Update

Global equities pulled back amid concerns over inflation expectations as investors anticipate a strong economic rebound on the back of aggressive U.S. fiscal stimulus. Against this backdrop, global government bond yields climbed and energy prices continued to strengthen. Gold prices were hampered by rising real interest rates.
The S&P/TSX Composite Index declined amid weakness in materials and staples while discretionary and health-care advanced. Canadian headline inflation in January reached its highest level in 11 months despite lockdown induced setbacks in manufacturing and retail sales.
The S&P 500 Index (C$) declined amid weakness in health-care, utilities, and technology. Energy and financials strengthened. The U.S. Producer Price Index in January registered its largest monthly gain since 2009. U.S. retail sales also strongly outpaced expectations.
The MSCI EAFE Index (C$) declined amid weakness in utilities, health-care, and staples. Energy, materials, and financials strengthened. Japanese equities strengthened following reports the country experienced stronger than expected Q4 GDP growth and robust manufacturing activity.

Previous article Next article