Stonebridge Wealth Management

10/31/2023

Are we in a recession? Are we not in a recession? If we are, will it be short or will it be long? Soft landings, hard landings, nowadays, the front page of the financials read like a mattress commercial. These are the questions that are driving everyone crazy. One economist recently suggested that the Canadian economy might already be experiencing a "modest" recession. This observation comes on the heels of Statistics Canada releasing its most recent GDP data for August, along with a preliminary forecast for September and the third quarter.

In August, the Gross Domestic Product (GDP) remained unchanged, as reported by Statistics Canada on October 31. This trend followed the GDP in July and fell short of analyst expectations, which had anticipated a month-over-month increase of 0.1 percent.

Additionally, the national data agency provided a preliminary forecast for September, indicating a flat GDP for that month. Based on the available data, Stephen Brown, the deputy chief North American economist at Capital Economics, estimated that the GDP for the third quarter had contracted by 0.1 percent. This, combined with the 0.2 percent decline in the second quarter, meets the technical definition of a recession, which is characterized by two consecutive quarters of economic contraction.

While some economists, including Brown, suggest that it is still possible for the economy to avoid a contraction in the third quarter, recent indicators like the Bank of Canada's Business Outlook Survey and the October CFIB Business Barometer align suggest that we’re more likely to see negative GDP growth. As a result, it appears more likely that the modest recession forecasted by Brown has already commenced.

Taking into account this latest data, many economists believe that the Bank of Canada should reconsider its campaign of raising interest rates. Benjamin Reitzes, an economist at BMO Economics, emphasized that this information provides yet another compelling reason for the Bank of Canada to halt its rate-hiking efforts.

In a nutshell, these changes in GDP figures are significant for the Canadian economy, the strategies of the Bank of Canada, and the path of interest rates.

10/18/2023

In keeping with it being Estate Planning Awareness month, I wanted to touch on a topic with a lot of misconceptions, "What to do with the family cottage when it comes to your estate plan." Whether it's a rustic cabin tucked away off the grid or a slightly more upscale retreat, cottages hold a unique magic. But much like everything else in life, there are some serious questions to consider when it comes to the family cottage, and I’m not just talking about who’s packing the bug spray. Questions like, how does the cottage fit within your estate plan? Can you afford to pass it down to younger family members, or do you need or want to sell it? Do your heirs even want it? And what are the tax implications involved in transferring ownership of the property? These are some of the questions I tackle in this video.

Welcome to Money See Money Do! I'm Tim Gendreau, a Senior Financial Advisor with nearly 30 years of experience. Today, diving into something that can be very...

09/26/2023

LAST WEEK IN THE MARKETS - week ending September 22nd.

Global stock markets took a dip Last week, mainly due to concerns that the U.S. Federal Reserve might keep interest rates high for a while, making investors a bit uneasy. In Canada, the stock market, especially the Information Technology sector, felt the pinch. Even in the U.S., the overall stock market, as measured by the MSCI USA Index, had a downturn. Interestingly, oil and gold prices remained steady throughout the week. On a related note, bond yields for both Canada and the U.S. saw a slight rise.

Shifting gears to Canada, inflation has been on the rise, hitting 4.0% in August, surprising the economists. Gas prices and rental expenses played a big role in pushing up inflation. Even when we look at the core inflation, excluding the wobbly stuff, it saw a bit of a hike, too. The Bank of Canada, keeping an eye on this, is cautious and ready to make a move if needed.

Now, in the U.S., the Federal Reserve had its meeting and decided to keep interest rates where they were. However, another rate hike might happen later this year to keep inflation in check.

Across the pond in the U.K., the Bank of England also decided to hold steady on rates, a bit unexpected given their recent trend of hiking rates. They believe this strategy has helped fight inflation, but they’re still watchful and ready to adjust if needed.

Lastly, we’re seeing a slowdown in global manufacturing, and it’s a bit worrisome. Demand seems to be not as high, especially due to tighter financial conditions, which is a significant concern for the global economy. This struggle is noticeable in the U.S., Europe (like Germany), and Japan, all facing challenges in their manufacturing sectors.

If you have any questions about your portfolio and how it is positioned to take advantage of current market conditions, please don’t hesitate to reach out to me at the contact information I’ve included.

09/08/2023

It’s Friday so we thought we’d keep it light with a brand-new large popcorn-sized episode of Money See Money Do! Today, we’re breaking down some of our all-time favourite Rags-to-Richs films—countdown style!
I mean, Who doesn't like a good comeback story, right? So, Grab some popcorn, slide into your favourite comfy chair and check out these stories of determination, ambition, and some seriously unexpected turns. Have a great weekend!

Welcome to a fresh, large popcorn-sized episode of Money See Money Do! Today, I'm keeping it light. Join us on a Hollywood-style adventure as we reveal our all-time favourite Rags-to-Riches films—countdown style! Who doesn't love a good comeback story, right? We've handpicked five cinematic gems t...

07/28/2023

When it came to designing our new office post-Covid, we decided to kick conventionality to the curb. Let's be honest, the past two years have been all about remote communication, leaving us without any face-to-face contact. Surprisingly, even those clients who were hesitant about technology managed to find their comfort zone with it. Before the pandemic, only about 20% of my client meetings took place using platforms like Webex, Zoom, Teams, and the like. But now, that number has skyrocketed to around 75% and shows no sign of slowing down. The convenience is just too tempting for most clients to resist

As a result, the office environment needed to adapt and evolve. The old setup, which was primarily focused on catering to clients, had to make way for a new era. Now, the pendulum has swung, and offices serve a dual purpose. We wanted to create a space that prioritized comfort, creativity, and approachability, while still being fully functional for our clients to enjoy. And guess what? I'm thrilled to to say we've hit the right chord on this one (pun intended). Stay tuned for some more pics of our evolving new space!

02/06/2023

Let’s face it, the best way to learn about investing, is to learn from some of the great investors of our time. Here are 10 of my favourite quotes from some of those aforementioned, great investors. Quote #1 is a real knock out so make sure you have your guard up. As always, if you have any questions reach out to me, I’d be happy to answer them.

These are a few of my favourite quotes that have a financial connection to them, some more obvious than others. There's so much to learn about, one of the gr...

04/06/2022

Investors always face a wall of worry. But in these cases, it’s often prudent to take a step back and think about the long-term goals of the investment portfolio.

02/01/2022

Welcome to Stonebridge Wealth Management in British Columbia, Canada!

In partnership with Manulife Securities, Stonebridge Wealth Management is delighted to officially announce the launch of our newly designed website at www.stonebridgewealth.ca

Our new site features a modern look with intuitive navigation, updated financial resources and timely articles, all on a mobile-friendly platform. We hope you'll find it easier to find the tools and information you're looking for, access your accounts and continue to communicate or book meetings with us quickly and efficiently.

We're real people. Just like you.
We've created our website especially with you in mind, and hope you can learn a little more about us while you explore our new website. Enjoy our personal music playlists while you check out our photos, great articles and financial resources to keep you informed!

As we continue to update our content, we welcome any feedback or testimonials from you. Be sure to follow us on our LinkedIn page, this page - and drop us a review!

Thank you for your continued support and partnership during this transition. We look forward to providing you with exceptional service and support.

Check out our new website: www.stonebridgewealth.ca
Follow us on LinkedIn: https://www.linkedin.com/company/tk-stonebridge-wealth-management

Financial security with Tim Gendreau, Jorge Aragon, Scott Tarasuk, Keith Cowieson and Jay Panis, Manulife Securities Financial Advisors in Langley, BC. Financial Services and trusted advice near you in Insurance, Wealth Investments, Retirement and financial planning, and Tax solutions, for Individua...

01/31/2022

Like a master artisan that has spent years perfecting and honing his/her craft in order to deliver on a promise, here at Stonebridge Wealth Management we too believe in the value that comes with experience. In a world where everyone is trying to sell you simple, because it’s the easiest thing to deliver on, it’s important to remember that simple, just isn’t that simple anymore. Check out our new video to learn more...

Like a master artisan that has spent years perfecting and honing his/her craft in order to deliver on a promise, here at Stonebridge Wealth Management we to believe in the value that comes with experience.

01/27/2022

Last Week in the Markets – For the week ended January 21

Global equity markets finished the week lower. Equity markets were extremely volatile over the week as investors prepared for a period of monetary tightening from global central banks, while corporate earnings were mixed.

In Canada, the S&P/TSX Composite Index declined, dragged down by the Information Technology sector.

In the U.S., weakness in the Consumer Discretionary sector weighed on the S&P 500 Index, which fell over the week. Heavy losses pulled down the NASDAQ Composite Index into a correction.

High-growth technology stocks were under pressure as the expected rise in interest rates was having investors consider the group’s perceived valuations.

The yield on the 10-year Government of Canada bond ticked higher, while the yield on the 10-year U.S. Treasury Bond moved lower. The price of gold advanced, as did the price of oil.

Photo credit -Hedgeye https://app.hedgeye.com/