top of page
Website Photos (4)_edited.jpg

Wealth Market Recap - May 2020

We hope that all is well with you and your family as we enjoy warmer weather and experience the gradual easing of lockdown restrictions. Below you will find a summary of what has taken place in the economy and markets in recent weeks, as well as some additional thoughts.

Market developments

  • North American markets moved higher this week, propelled by U.S. Federal Reserve (“the Fed”) Chairman Jerome Powell’s comments that the Fed was “not out of ammunition by a long shot” and not to bet against the U.S. economy in the medium or long run. Market optimism was also buoyed by positive results from Moderna’s COVID-19 vaccine phase 1 clinical trial.

  • The Canadian government announced expanded eligibility for emergency business loans to include businesses that have filed either a 2018 or 2019 tax return and have expenses between $40,000 and $1.5 million per year.

  • Canada’s consumer price index was down 0.2% year-over-year, the first such decline since September 2009.

  • The U.S. Census Bureau announced that housing starts in April were 29.7% below the April 2019 rate, a negative but expected sign for the economy. Weekly jobless claims were 2.438 million, bringing the cumulative nine-week tally to 38.6 million.

  • The price of U.S. oil reached two-month highs as lockdown restrictions eased even further in much of the world and supply continued to decrease.

How does this affect my investments?

The markets have continued to rebound in the face of a great deal of uncertainty related to both the progress of the pandemic and the prospects for an economic recovery, further demonstrating the risk of attempting to time your investments based on short-term reactions.

Much of this week’s optimism appears to have been fostered by the potential for both a vaccine and additional government stimulus. Whether reality will live up to this potential on either front has yet to be seen, which is why your investment plan does not depend on it.

Considering the news that continues to come out, including continued re-openings and poor economic data, the markets have both positive and negative indicators to choose from. As we have seen lately, they may alternate their focus from week to week, even when the news does not appear to be relevant. Therefore, we advise you to stay informed but to stick with your long-term plan. This allows you to remain unaffected by the market’s week-to-week fluctuations.

As always, we are happy to discuss your investment plans. Please do not hesitate to contact us at (877) 899-1997.


O’Farrell Wealth & Estate Planning

Sources: CI Investments Inc.,,, and


This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see a professional advisor for individual financial advice based on your personal circumstances.

Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada.

5 views0 comments

Recent Posts



*Mortgage products and services are provided by Assante Capital Management Ltd. through its

strategic partnership with Bank of Montreal.

We collaborate with you and each other to deliver unbiased advice that meets your personal and business needs.


Important Disclosures

Assante Capital Management Ltd. (“ACM”) is a member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. 




Know your Advisor: IIROC Advisor Report

Assante Financial Management Ltd. (“AFM”) is a member of the Mutual Fund Dealers Association of Canada (“MFDA”) and MFDA Investor Protection Corporation.

Stocks, bonds and mutual funds are provided through ACM. Mutual fund products are provided through AFM. Only those services offered through ACM are covered by the Canadian Investor Protection Fund, and only those services offered through AFM are covered by the MFDA Investor Protection Corporation. For more information please visit or contact our office for clarification.


To research the background, qualifications and disciplinary information on advisors at IIROC regulated firms please generate an IIROC Advisor Report.

Employee benefits and pension consulting services, Mortgage lending services, and insurance products and services are provided through O’Farrell Financial

Services Inc. (“OFSI”). OFSI is an independent company unrelated to ACM and AFM.

For further Assante Wealth Management important legal and compliance disclosure, please visit

For more information on our privacy policy, please visit

MFDA English Logo_PNG.png

© 2023 | All Rights Reserved

bottom of page