top of page
Website Photos (4)_edited.jpg

Wealth Market Recap - Sept 2020

Dear Client,

We hope that you and your family have been well. As the winter season approaches, the world is now experiencing a second wave of Covid-19. While strict lockdowns and movement restrictions helped control the first wave, new daily infections in most countries have picked up. Cases of Covid-19 are now higher than they were at the last peak in April when daily infections were averaging from ~80-85k. Today, daily infections are at about ~450-475k. Rather than implementing complete lockdowns, countries around the globe are now taking a modified approach to restrictions to find a balance between the economic and public health interests.

Macroeconomic and market developments

  • The S&P 500 Index and S&P/TSX Composite Index registered gains during the first half of October and trimmed most of those gains over the second half of the month.

  • While there is a consensus that more needs to be done to help the economic recovery, and with the Presidential election looming, the political climate remains heated with talks on another fiscal stimulus dragging along.

  • On October 26th the US Senate, led by the Republicans, confirmed ‘Amy Coney Barrett’ as the next Supreme Court Judge. With her appointment, six of the nine Supreme Court Judges have been nominated by Republicans.

  • Canada had its share of political drama as the minority Liberal government survived a vote of confidence over a Conservative motion that demanded a special committee to probe the government’s pandemic relief spending.

  • The Bloomberg Survey Report states that the quarter-over-quarter US GDP growth for the third quarter of 2020 is expected to be ~29.9% for the United States and ~45.2% for Canada. The corresponding numbers for the second quarter of 2020 were -31.4% for the United States and -38.7% for Canada.

How does this affect my investments?

The stock markets are inherently volatile and short-term market movements are impossible to predict. Historically, market declines have been followed by recoveries and new highs. By staying invested, your portfolio will be well positioned to benefit from a recovery.

If you have any questions about your investment portfolio, your advisor would be happy to discuss them with you.


O’Farrell Wealth and Estate Planning

Sources: Bloomberg

2 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