Last Week In The Markets:
Oct 1, 2020

Last Week In The Markets:

Risk assets retreated (in local currency terms) as growing evidence of a second wave in coronavirus cases fueled concerns about the pace of the global economic recovery. Weaker global demand prospects weighed on the price of oil. A more muted inflation outlook hurt gold prices but led to strong gains for the U.S. dollar.
The S&P/TSX Composite Index declined amid weakness in health care, commodity sectors, REITs, and financials. Technology and staples led the advancing sectors. The Canadian government proposed additional income support to replace the Canadian Emergency Response Benefit (CERB). Canadian bond yields fell in tandem with global bonds.
The S&P 500 Index (C$) advanced amid gains in technology, utilities, and discretionary. Commodity sectors, industrials, and REITs declined. U.S. legislators remained at an impasse regarding further fiscal stimulus as talks resumed, increasing uncertainty ahead of the U.S. presidential election. 
The MSCI EAFE Index (C$) declined amid weakness in commodity sectors and financials; European bank stocks (European STOXX 600 Banks Index) fell to all-time lows. Record COVID-19 cases reported in the U.K. and France weighed on sentiment. Japanese equities outperformed amid a holiday shortened trading week.

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