Month in Review - January 2022
Stock markets had a poor start to 2022 with the S&P 500 having one of its worst Januarys ever, falling 4.8% (in CAD). At home, the TSX Composite fell 0.4%, performing better than the S&P 500 as returns on Canadian banks and oil companies were much stronger than US technology companies. The Canadian Universe Bond Index also had a poor month falling 3.5%, thereby making matters worse for traditional portfolios consisting of bonds and equities. We continue to use private real estate and private debt as the core safety portion of your portfolios and both asset classes held up well in January, giving you better downside protection than bonds, resulting in more diversified and less volatile portfolios.