You may not have noticed yet, but since your last statement date (June 30th for most people), markets have experienced quite the upswing. Since August, markets have rallied on the rumor and subsequent confirmation of another round of stimulus by central banks around the world. Last week, the U.S. Federal Reserve announced plans to buy $40-billion of mortgage bonds a month for as long as necessary as part of of their latest quantitative easing strategy. The aim is to encourage people to borrow money and spend it.
If you have a long-term, growth oriented portfolio, you are up somewhere in the 4-8% range for the year. While this figure is not earth shattering, it is a nice turnaround from the negative numbers that you likely saw on your semi-annual statement, which may be the last time you looked at your portfolio.
If you want to obtain an up to date statement, feel free to contact us anytime.
Market Recap (as of September 21, 2012)
- The TSX closed at 12409, down -0.72% over the past week. YTD the TSX is up 3.80%.
- The DOW closed at 13579, down -0.10% over the past week.YTD the DOW is up 11.14%.
- The S&P closed at 1460, down -0.41% over the past week.YTD the S&P is up 16.06%.
- The Nasdaq closed at 3180, down -0.13% over the past week.YTD the Nasdaq is up 22.07%.
- Gold closed at 1776, up 0.17% over the past week.YTD gold is up 13.48%.
- Oil closed at 91.95, down -7.10% over the past week.YTD oil is down -7.03%.
- The USD/CAD closed at 0.9766, up 0.58% over the past week.YTD the USD/CAD is down -0.33%.
Sources: Advisor.ca, Dynamic Funds, Financial Post