Market Update: September 2020
The stock markets continued to rise in the month of August despite a resurgence in Covid-19 cases in many parts of the world. India and Argentina saw dramatic spikes in their 5-day average cases while the United States and Brazil have seen a lower rate of cases by the same measure (Source John Hopkins University Data). The TSX was up 2.35% while the S&P 500 (in CAD terms) was up 4.09% for the month. The Canadian Universe Bond index fell 1.62% and 10-year government of Canada Bond yields rose from 0.46% to 0.63%. The Bank of Canada has committed to maintaining their 0.25% rate for the foreseeable future and the US Federal Reserve has indicated that it plans on keeping their rate between 0% and 0.25% until at least 2023.
