Eyes on Hormuz: Energy Markets at a Geopolitical Crossroads
May 2026 Issue
In This Issue: Early rout of Iranian military offset by Iranian shutdown of Strait of Hormuz Hormuz closure has halted oil, LNG and fertilizer exports from the Middle East Reordering of global energy supply Economic implications of Epic Fury The most recent crisis in the Middle East involving Iran and…
Read moreProductivity To the Rescue
May 2026 Issue
In This Issue: US undergoing productivity boom while economy begins to accelerate Labor markets stabilizing Canada’s productivity gap & population trap Productivity booms raise wages & hold back inflation For most industrialized nations, their respective economies fared better than expected in 2025. The shock of the trade and tariff dispute…
Read moreBalancing AI’s Promise and Bubble Fear
Nov 2025 Issue
In This Issue: US legacy of technology leadership AI investment fueling US economy Tech sector spending on AI leads to bubble fears Today’s tech investment is funded mostly by cashflow—not debt Since the end of World War II, the U.S. economy has consistently distinguished itself from the rest of the…
Read moreTariffs, Trade & Turmoil 2.0
Apr 2025 Issue
In This Issue: Artificial Intelligence’s rise is not without challenges AI showing great promise for the global economy Murky math of US tariff levies is puzzling China is the center of US tariff policy but there is some room for budding opti- Since the 1980s, mainstream thinking had come to…
Read moreThe Economic Risk of Taiwan
Nov 2024 Issue
In This Issue: Taiwan is indispensable to the technology sector given its leadership in semiconductors China’s intentions towards independence of Taiwan raise economic risks US, Europe and Japan focused on rebuilding domestic semiconductor capacity The key forces propelling the economy forward are innovation and advances in technology which compound upon…
Read moreAI Challenging Climate Goals
Jul 2024 Issue
In This Issue: Artificial Intelligence’s rise is not without challenges AI showing great promise for the global economy AI’s enormous energy appetite is going to challenge climate goals of policymakers AI’s future will depend on more energy One of the hallmarks of the US economy for over a century has…
Read moreCanada’s Challenge: Closing the Productivity Gap
Apr 2024 Issue
In This Issue: Canada’s economic malaise Caught in a population trap US economy sets the productivity bar Rising population and labor supply will not bail out Canada from its challenges The story of major economies of the world undergoing a prolonged period of malaise is more frequent than it might…
Read moreThe Red Sea’s Inflation Risk
Feb 2024 Issue
In This Issue: Global shipping chokepoints expose risks Vulnerability of supply chains exposed again Inflation risks are put back on the table Houthi militias hold the cards if the Red Sea is going to cause wider economic risks Over the last several decades, military and shipping industry experts have warned…
Read moreThe US National Debt Challenge
Feb 2024 Issue
In This Issue: 2001 consensus was for the US to be debt free by 2010 Rising spending and the pandemic spiked debt Facing hard choices at a challenging time Canada showed debt can be solved For over a generation, fears about the US national debt have ebbed and flowed. A…
Read moreChina’s New Normal
Feb 2024 Issue
In This Issue: China’s economic challenges China real estate sector causing significant disruption China’s population expected to fall 50 percent by the end of this century Implications for the global economy Over a decade ago, many scholars and commentators had concluded that China’s economic rise would mark this century as…
Read moreBanks Create New Hurdles for Economic Growth
Feb 2024 Issue
In This Issue: The 2020s nothing like the Roaring 20s Add bank failures to the mix of worries SVB’s failure is not a systemic issue so far Credit tightening helping Fed with inflation Big 4 banks act as safe ports in the storm It is said that the 1920s was…
Read moreCrossborder Retirement Pensions
Aug 2023 Issue
Many Canadian and American expatriates we encounter need guidance with respect to their government pension planning. Commonly, they will have worked in both countries and have accumulated both Canada Pension Plan (CPP) and US Social Security (SS) pension credits. The question then becomes, “which pension do I apply for when…
Read moreInflation Optimism & Recession Fears
Feb 2023 Issue
In This Issue: 2022 was not all bad Positive surprises being masked China’s policy U-turn is a mixed positive Inflation battle beginning to turn Mild recession if policy errors avoided At the start of every year, one of the long-standing traditions in the investment world is for strategists to publish their…
Read moreBonds Finally Get Interesting
Nov 2022 Issue
In This Issue: Bond markets are pivotal to markets Policy errors destroy bond returns Balanced portfolios showing historic declines Bond price drop creating attractive valuations The late comedian Rodney Dangerfield was known for the famous line “I don’t get no respect.” When it comes to investing in the financial markets,…
Read moreWar on Inflation Awakens the Bear
Aug 2022 Issue
In This Issue: In Spring 2020, the global economy entered the deepest recession since the Great Depression. Fortunately, it also turned out to be the shortest recession on record – lasting barely two months. Powered by a limitless level of stimulus from governments and central banks, the global economy roared…
Read moreThe Return of the Old World Order
Aug 2022 Issue
In This Issue: War in Europe & the old world order Conflict brings energy security to center stage Economic growth forecasts lowered Evolving perspectives on ESG Investing As the COVID pandemic peaked and the world started to transition back to some semblance of its pre-pandemic characteristics, it is clear that normal…
Read moreInflation Fueling Markets’ Anxiety
Feb 2022 Issue
In This Issue: Interest rates set to rise Investor anxiety is rising Markets undergoing a repricing History shows worries might be misplaced For over 40 years, interest rates have been falling across the world. However, the path of interest rates has not followed a smooth path downward. To those with…
Read moreInflation: Still Not That ’70s Show
Oct 2021 Issue
In This Issue: Supply chain issues hitting the economy Inflation concerns rise Energy prices throwing a curveball All eyes are on the central banks The emergence of the global economy from the pandemic induced lockdown last year has brought about more than a few curveballs. The turbocharged economic growth rate…
Read moreSupply, Demand and the Exaggerated Demise of Oil
Aug 2021 Issue
In This Issue: JP Morgan analyst: policies are reducing fossil fuel energy capacity faster than demand can switch to renewables Oil supply must rise to balance steady demand EVs face challenges from infrastructure and copper supply In response to reports of his passing in 1897, the great American author, Mark…
Read moreEconomic Blue Skies & Awakening Inflation
May 2021 Issue
In This Issue: Global economic growth gathering momentum Vaccines have strengthened the economic recovery Nations facing different paths out of the downturn due to differences in vaccination rates Inflation is going to be a hurdle for the economy The global economy has come roaring back faster and further than the…
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