Bard Wealth Management

06/03/2026

Eurostat, the statistical office of the European Union, released its latest flash estimate of euro area inflation, showing that prices continued to rise in May. The ongoing conflict in the Middle East is keeping energy costs elevated across Europe, pushing overall inflation higher and putting pressure on consumers and policymakers alike.

06/02/2026

At the end of May, Statistics Canada announced Canada’s gross domestic product (GDP) shrank in the first quarter of 2026. Due to the contraction in the fourth quarter of 2025, Canada’s economy fell into a technical recession, which is marked by two consecutive quarters of falling economic growth.

Canada’s economy is feeling the impact of trade and geopolitical tensions, which is also clouding the outlook. Canadian households and businesses are facing headwinds from surging prices and lower confidence. Here are more details from Canada’s first quarter GDP report.

06/01/2026

Last Friday, Statistics Canada (StatsCan) reported that Canada’s economy fell into a technical recession after contracting for a second straight quarter in the first quarter of 2026. The results suggest Canada’s economy has come under pressure amid trade, geopolitical tensions and higher prices.

This week, we will get some insight into Canada’s labour market, another area that is being challenged and weighing on overall growth. Looking abroad, investor attention continues to be on the negotiations of a peace deal between the US and Iran. Here are some key scheduled economic announcements to watch for this week.

05/31/2026

This week in The Week Ahead, Avery Shenfeld highlights how, despite other priorities occupying the President, trade policy remains a key focus. The stalled momentum on Canada-US trade developments and the likely delay of the USMCA reviews Canada’s continued vulnerability to US tariffs and shifting trade strategies.

05/29/2026

Did you know economic and market performance can impact all aspects of your wealth plan from cash flow management to your investment strategy?

In the latest Weekly Market Roundup, our partners at CIBC Global Asset Management discuss recent economic data and how the markets reacted this week. If you’d like to discuss this commentary or have questions about your investment portfolio, please get in touch with me anytime.

Economic data Prospects of a peace deal in the Middle East remained front and centre this week as oil prices eased on the back of headlines that the US and Iran reached a tentative deal that would see the ceasefire extended for another 60 days. The extended ceasefire would allow more time for both s

05/29/2026

The US Bureau of Economic Analysis (BEA) released some critical US inflationary data yesterday. Data showed that US inflationary pressures are accelerating as the conflict in the Middle East pushes up energy prices and is weighing on consumer spending.

Meanwhile, a second estimate showed that the US economy grew at a slower pace than the first estimate. The US economy appears to be showing its fragility amid elevated geopolitical tensions and ongoing trade disruptions.

05/28/2026

Another report released on Tuesday showed that US consumer confidence is falling amid rising prices, which is putting the squeeze on consumers and raising uncertainty on the overall health of the US economy.

Tuesday’s report from the Conference Board showed that consumer confidence is deteriorating as a result of current expectations, which matched the University of Michigan’s gauge of consumer confidence released last week. Consumer confidence is widely considered a leading economic indicator. Here’s more from the Conference Board’s report.

05/27/2026

Data from 2026 thus far has shown Canada’s labour market conditions slowing with the economy losing jobs and the unemployment rate moving higher. However, Bank of Canada (BoC) External Deputy Governor Nicolas Vincent said that the labour market may not only be slowing down, but it may also be going through a structural change.

Vincent believes this is evidenced by its current “low-hire, low-fire” environment. While the BoC can make monetary policy changes to help support the labour market, shifting monetary policy is less effective during times of structural change.

05/26/2026

Last Friday, Statistics Canada (StatsCan) reported that Canadian retail sales jumped higher in March 2026. On the surface, the growth in retail sales was an encouraging number. However, a closer look beyond the headlines showed broad-based spending began to decline as higher oil prices took hold.

The majority of Canadians’ spending in March was related to gasoline prices, whereas non-gas sales declined. Canadians have been resilient amid trade and geopolitical tensions, but higher inflation clouds the spending outlook.

05/25/2026

Last week, global investors were relatively optimistic on hopes the US and Iran were working towards a peace deal. However, the two sides remain in negotiations, leaving the Strait of Hormuz effectively closed, which is helping to keep oil prices high. Higher oil prices are pushing up inflation around the world and raising concerns that consumer spending will be impacted.

Last week in Canada, data showed that the annual inflation rate increased in April. And while retail sales increased, it was mostly due to higher gasoline prices. Economic uncertainty persists, leaving markets to carefully analyze each and every scheduled economic announcement.