Potential of increased near-term volatility

Here's what we're thinking

March 14, 2017

Markets will have to digest a flurry of important event risk and developments over the coming couple of weeks including February U.S. labour data (3/10), a Federal Reserve interest rate policy meeting (3/15), Netherlands’ national election (3/15), Pres. Trump’s budget submitted to Congress as well as negotiations over debt ceiling (Mar. 16), UK could invoke Article 50 triggering Brexit negotiations & European summit (3/9-10), China NPC & economic policies/targets (3/9), G20 finance officials meeting (Mar. 17-18), and a Trump/Merkel meeting (3/14).

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Sources of income retirement (3)

The Ritcey Report

March 9, 2017

This is the third of a three-part commentary about an issue central to the financial well being of our friends in Nova Scotia approaching retirement age.

Many Canadians have investments within a Registered Retirement Savings Plan (RRSP or RRSPs) that they have built up over the years. And, to complement these accumulated retirement funds, they are also investigating other sources of retirement income such as Old Age Security (OAS), the Canada Pension Plan (CPP) and the Guaranteed Income Supplement (GIS). But none of these completely exhaust retirement income possibilities. Here are some additional retirement income options:

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Takeaways from the Annual NPC Session

Canadian & U.S. morning comments

March 7, 2017

The Chinese government released its 2017 economic and reform targets at the annual National People’s Congress (NPC) session. The government work report indicated that the overall policy focus this year will be on maintaining macro stability while continuing to promote structural reforms. From a commodity perspective, a slightly lower growth target supports our view that metals consumption will likely retreat this year but remains robust. To offset this decline in demand, deepening supply-side reform should continue to provide a structural support, especially for bulk commodities.

2017 GDP growth target is set at “around 6.5%, or higher if possible”. Recall that 6.5% is the floor rate that China needs over the next few years to double its 2010 GDP level by 2020. This year’s objective is lower than 2016 target of 6.5% – 7% and the actual growth rate of 6.7%. In our view, Beijing is focusing on maintaining stability and carrying out reform this year, in exchange for slower economic growth.

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