Brandon Gallant, Financial Security Advisor

05/11/2026

📊 March 2026 Market Recap | Gallant Wealth Management

March was a challenging month for global markets — and the headlines explain why.

Escalating conflict in the Middle East effectively closed the Strait of Hormuz, sending oil prices up over 50%. That triggered a broad repricing of inflation expectations and pushed government bond yields higher in both Canada and the U.S.

A few key developments worth noting:

🇨🇦 The Bank of Canada held its overnight rate at 2.25%, but signalled caution — Canada shed 83,900 jobs in February, the sharpest monthly decline since early 2022, driven largely by full-time losses. Markets are increasingly pricing in a possible rate hike if energy-driven inflation materializes.

🇺🇸 The Fed held steady at 3.50–3.75%, with core inflation at 2.5% heading into the energy shock. Chair Powell noted long-term inflation expectations remain anchored — for now.

🌍 China set a 2026 GDP growth target of 4.5–5.0%, slightly lower than last year, with a U.S.-China trade summit scheduled for mid-May.

The bottom line: Markets are navigating a rare combination of geopolitical shock, labour market softness, and inflation risk. Diversification and a long-term perspective remain your best anchors in this environment.

Questions about your portfolio or plan? Let's connect.

Markets faced a shifting backdrop in March, with global tensions and economic data challenging assumptions about growth, inflation and rates.

04/13/2026

📊 March 2026 Market Recap | Gallant Wealth Management

March was a turbulent month for global markets — and if you've been watching the news, you probably understand why.

A conflict in the Middle East effectively shut down the Strait of Hormuz, one of the world's most critical oil shipping routes. The result? Oil prices surged more than 50%, inflation fears resurfaced, and markets reacted accordingly.

Here's what stood out:

🇨🇦 Canada shed 83,900 jobs in February — the steepest monthly decline since early 2022. Trade tensions with the U.S. and rising energy costs are squeezing consumers and businesses alike. The Bank of Canada held its overnight rate steady at 2.25%, but is closely monitoring whether inflation forces its hand later this year.

🇺🇸 United States — even before the conflict, inflation was running at 2.4%. The Fed held rates steady but left the door open for hikes if energy-driven inflation accelerates. Markets have already begun pricing in that possibility.

📈 Bond yields rose in both Canada and the U.S. as higher inflation expectations took hold — a signal that central banks may face difficult decisions in the months ahead.

🌏 China trimmed its 2026 GDP growth target to 4.5–5.0%, citing ongoing trade tensions and soft domestic demand. A U.S.–China summit is scheduled for mid-May — one worth watching.

Volatility is part of investing — not a reason to panic. Months like March are exactly why we build diversified, long-term financial plans tailored to your goals.

Have questions about how any of this affects your portfolio or plan? I'd love to connect.

📩 Reach out anytime — that's what I'm here for.

Markets faced a shifting backdrop in March, with global tensions and economic data challenging assumptions about growth, inflation and rates.

03/10/2026

February Market Update: Markets Ignore the Noise

February delivered plenty of headlines — geopolitical tensions, new tariffs, and interest rate uncertainty.

Yet markets remained surprisingly resilient.

1️⃣ Canada’s stock market keeps pushing higher
The TSX reached new record highs during February, continuing to outperform many global markets.

2️⃣ Interest rates may be stabilizing
Bond yields in Canada and the U.S. moved lower, and markets expect central banks to hold rates steady in the near term as inflation pressures continue to ease.

3️⃣ Canada’s economy slowed… but not dramatically
GDP contracted slightly in late 2025, largely due to falling business inventories. However, consumer spending and exports remained solid, suggesting the slowdown may be temporary.

4️⃣ Trade tensions returned
New U.S. tariffs were introduced, but CUSMA goods remain exempt, limiting the direct impact on Canada — for now.

5️⃣ Geopolitical tensions are back in focus
Escalating conflict in the Middle East pushed oil and gold prices higher, reminding markets how quickly global risks can emerge.

📊 Bottom line:
Despite constant headlines and uncertainty, markets continue to climb the “wall of worry.”

Long-term investors are usually rewarded for staying invested and avoiding emotional decisions during volatile news cycles.

February was defined by tensions, tariffs, trade talk and shifting rate paths. See how these events filtered through markets.

02/10/2026

📊 January Market Update — A Strong Start, With Some Big Question Marks

Markets started 2026 on a positive note, but it wasn’t without plenty of uncertainty under the surface.

Here’s what really mattered in January 👇

📈 Markets moved higher
Stocks climbed as some global tensions eased and AI-related companies stayed in favour. In Canada, the TSX hit another all-time high, led by energy stocks. Oil and gold both rose — and gold, steel, and copper all hit record prices.

🇨🇦 Canada looking to diversify trade
Prime Minister Mark Carney met with Chinese leaders to expand trade beyond the U.S. This included:
✔️ Lower tariffs on Canadian canola
✔️ More energy exports to Asia
✔️ Reduced tariffs on Chinese EVs

The U.S. response was mixed, which adds uncertainty ahead of upcoming trade talks this year.

🌍 Geopolitics back in the spotlight
Tensions flared around Greenland, Venezuela, and Iran early in the year. While some of that cooled off later in January, the uncertainty pushed investors toward safe-haven assets like gold.

🇺🇸 Inflation still a concern in the U.S.
Inflation remains above target, and consumers are feeling it — especially at the grocery store and the gas pump. Consumer confidence dropped to its lowest level since 2014. Because of this, the Fed paused rate cuts and held interest rates steady in January.

🛢 Oil markets sending mixed signals
Despite rising prices in January, global supply could exceed demand in early 2026. That could create pressure on prices later this year, although geopolitical risks could still change the picture quickly.

💬 Bottom Line:
Markets are off to a solid start in 2026, but inflation, geopolitics, and trade dynamics are creating real uncertainty beneath the surface.

As always, staying diversified and focused on long-term goals matters more than reacting to headlines.

—
Gallant Wealth Management 💼

January markets reflected shifting trade dynamics, persistent inflation, and rising global risk – all building pressure beneath the surface. Geopolitics, central bank decisions and energy markets contributed to the tremors shaping the investment land

01/14/2026

The days when leaders could plan years ahead with confidence are over. The pace of change today is relentless — forecasts age fast, and traditional planning just doesn’t cut it anymore. But that doesn’t mean we stop planning. It means we rethink how we do it. In an unpredictable world, adaptab...

01/08/2026

📊 December Market Update — Wrapping Up 2025

As 2025 came to a close, markets finished slightly higher — but with a cautious tone heading into the new year.

🇨🇦 Canada finished the year strong
After months of concern, Canada’s job market showed real improvement:
✔️ Over 53,000 jobs added in November
✔️ Unemployment dropped to 6.5%
✔️ Inflation appears largely under control

With things stabilizing, the Bank of Canada kept interest rates steady, signalling they’re comfortable with where policy sits — for now.

🇺🇸 U.S. economy surprised to the upside
The U.S. economy grew at its fastest pace in two years (4.3% in Q3), helped by strong consumer spending and exports. Inflation cooled, and the Fed cut rates again in December, opening the door to potential further cuts in 2026.

🇨🇳 China still struggling to spark demand
China’s consumer spending remains weak, and that’s being felt globally — especially in Europe. New stimulus is on the way in 2026, but growth remains uneven for now.

🥇 Commodities stole the spotlight
Gold, silver, and copper all hit record highs in December, driven by geopolitical uncertainty, supply concerns, and expectations of lower interest rates. Oil prices, meanwhile, drifted lower.

💬 Bottom Line:
Markets ended 2025 with cautious optimism. North America is holding up well, inflation pressures have eased, but global growth remains uneven.

As we head into 2026, staying diversified and focused on long-term goals matters more than ever.

If you have questions about your investments or want to review your strategy for the year ahead, I’m always happy to connect.

—
Gallant Wealth Management 💼

Global markets ended 2025 on a cautious upswing, with resilient North American growth, soft demand in China, and record highs in key commodities shaping the outlook for 2026.

12/08/2025

📊 November Market Update — What Actually Mattered

At first glance, November looked pretty calm in the markets… but behind the scenes, there was a lot happening that investors should be aware of.

🇨🇦 Canada showing real strength
Despite ongoing trade pressure from the U.S., Canada surprised on the upside:
✔️ The economy grew 2.6% in Q3
✔️ Housing and government investment helped push growth forward
✔️ Exports increased
⚠️ Consumer spending slowed a bit as the job market softened

The new federal budget also includes big investments in energy, infrastructure, and critical minerals. Yes — the deficit is large — but it shows just how much effort is being put into reshaping Canada’s economy for the future.

🇺🇸 U.S. finally back to work
After the longest government shutdown in history, delayed data showed:
• Job growth returned
• Consumers are still spending — but more cautiously
• Markets now expect another interest rate cut in December

🇬🇧 U.K. slowing
Growth stalled, retail sales fell, and higher taxes are coming as the government tries to manage rising spending.

🇯🇵 Japan hit by tariffs
Japan’s economy actually shrunk in Q3, mostly due to weak exports and trade tensions. Stimulus may be coming soon.

📈 Markets Recap
• TSX hit a new all-time high
• Gold went up
• Silver hit a record
• Oil dropped
• U.S. markets saw small gains

💬 Bottom Line:
Even when markets look quiet, there’s a lot happening underneath. Trade tensions, interest rates, and global growth still matter — and they all affect long-term portfolios.

As always, if you have questions about your investments, retirement plans, or goals for 2026 and beyond — I’m always happy to chat.

—
Gallant Wealth Management 💼

Markets may look calm, but the details tell a different story. Canada’s ambitious budget, Japan’s tariff struggles, and the U.S. emerging from its longest shutdown ever are shaping the global outlook.

10/10/2025

🌎 September 2025 Market Recap | Gallant Wealth Management

Markets continued their climb in September as both the Bank of Canada and U.S. Federal Reserve cut interest rates. Easing inflation and renewed optimism helped push Canadian and U.S. equities to new record highs — with materials leading the charge and gold hitting fresh all-time highs.

🔹 Key Highlights

🏦 Central Banks Cut Rates
The Bank of Canada lowered its key rate by 25 bps to 2.50%, signaling more easing could come as trade tensions weigh on growth.

The U.S. Federal Reserve made its first 2025 rate cut, bringing the target range to 4.00–4.25%. The Fed now projects two more cuts before year-end to support a softening labour market.

💰 Gold Shines Bright
Gold surged 12% in September to surpass US$3,800/oz, as investors sought safety amid economic uncertainty and a weaker U.S. dollar. Canada’s materials sector soared 19% during the month and is now up 78% year-to-date.

🌍 Trade Diversification in Focus
With U.S. tensions lingering, Canada ramped up global outreach — strengthening ties with Mexico and China to expand trade in energy and agriculture. Prime Minister Mark Carney emphasized diversification as essential for long-term stability.

🇨🇳 China Slows but Holds Steady
China’s key indicators softened, with retail sales up just 3.4% and exports to the U.S. plunging 33% year-over-year. The People’s Bank of China kept rates unchanged but pledged continued support if needed.

📉 Oil Dips, Bonds Ease
Oil prices fell, while yields on 10-year government bonds declined in both Canada and the U.S., reflecting expectations of further policy easing.

➡️ Looking Ahead
With inflation easing and rate cuts underway, markets are shifting from inflation-fighting to growth support. These policy moves may provide relief for borrowers and a tailwind for equities, though slower momentum could challenge the months ahead.

At Gallant Wealth Management, we continue to emphasize diversification — balancing opportunity in equities with improved fixed-income yields to build resilient, long-term portfolios.

📈 Thoughtful planning and disciplined investing remain your best tools in a changing market.

Markets gained ground in September, lifted by rate cuts and easing inflation. Canadian and U.S. equities reached record highs, with materials leading performance. Gold rose, oil slipped.

10/02/2025

🚨 TFSA News for 2026 🚨

Good news — the TFSA annual contribution limit will stay at $7,000 next year! That brings the total contribution room to $109,000 for anyone who’s been eligible since 2009 and never contributed.

Why this matters:
✅ Growth inside a TFSA is 100% tax-free
✅ Withdrawals are not taxable
✅ Perfect for both short-term savings and long-term investing

⚠️ Watch out though — the CRA charged $166 million in penalties last year to Canadians who accidentally overcontributed. Always keep track of your deposits, since the CRA portal often updates late in the year.

💡 Whether you’re just starting or already maximizing your TFSA, 2026 is a great time to put your savings to work.

Message me if you’d like to review your contribution room or investment strategy.

Total TFSA contribution room to rise to $109K for eligible taxpayers

09/09/2025

🌍 August 2025 Market Recap: Trade Clarity Boosts Confidence

Markets advanced in August as signs of progress in global trade and speculation of U.S. rate cuts lifted investor sentiment. Here are the key takeaways:

📈 Markets Push Higher
The S&P/TSX Composite hit a new record, powered by strength in Materials and Health Care. U.S. equities also edged higher. Bond yields declined in both Canada and the U.S., oil prices fell, and gold gained.

🇨🇦 Canada’s Economy Contracts
Canada’s GDP shrank at a 1.6% annualized pace in Q2, weighed down by a 7.5% drop in exports and weaker business investment. Key industries like steel, aluminum, and autos felt the brunt of U.S. tariffs. On the positive side, household spending rose 1.1%, showing resilience. The Bank of Canada signaled openness to another rate cut as growth and inflation remained soft.

🏦 Fed Signals Rate Cut
At Jackson Hole, Fed Chair Jerome Powell highlighted risks from tariffs and slowing job growth. While inflation is still elevated, the Fed is increasingly concerned about the labour market. Markets now expect a rate cut as early as September.

🇨🇳 U.S.–China Truce Extended
The U.S. and China extended their tariff truce by 90 days, giving negotiators more time to finalize a complex deal. Still, U.S.–China trade activity slowed, with Chinese exports to the U.S. plunging 21.7% year over year in July. Weak retail and industrial production data added to China’s challenges, even as its central bank kept policy loose.

🛍️ Retailers Feel the Pressure
Walmart reported record revenue but missed earnings estimates for the first time in three years, citing restructuring costs and tariff pressures. Target posted stronger results, though future sales growth looks muted. Meanwhile, President Trump ended the “de minimis” exemption for imports under US$800, a change that could push consumer prices higher.

➡️ Looking Ahead
Markets will be watching whether central banks follow through with rate cuts in September, how Canada–U.S. trade negotiations progress, and whether China can stabilize growth amid trade headwinds.

Canada Life Monthly. For the month ended August 31, 2025