Last Week In The Markets:
Aug 20, 2020

Last Week In The Markets:


Last week in the markets:

A risk-on sentiment prevailed in foreign markets as equities advanced in local currency terms, global government bond yields surged, and gold prices fell sharply.
Rising oil prices benefited the Canadian dollar (CAD) which strengthened against major foreign currencies but pared gains for CAD-based investors. 
The S&P/TSX Composite Index edged lower amid a sharp pullback in materials and technology. Bond-proxies also fell while financials advanced amid a steeper yield curve. July economic data showed Canadian home sales surged a record 26% and manufacturing shipments topped expectations helping to push government bond yields higher.
The S&P 500 Index fell in Canadian-dollar terms, but briefly surpassed an all-time high in local currency terms. Bond-proxies fell while industrials and energy advanced. July economic data showed U.S. retail sales edging past pre-pandemic levels while core inflation topped expectations helping to push U.S. treasury yields higher.
The MSCI EAFE Index (C$) strengthened; all sectors advanced led by discretionary, financials, and industrials. Europe underperformed as new travel restrictions weighed on sentiment.  Japan outperformed amid stronger-than-expected manufacturing data in China, a key trading partner. 


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