Market View

Canada’s inflation unexpectedly reaccelerated to 2.9 percent in May compared to the consensus estimate of 2.6 percent, reducing the odds of a rate cut in July. On the other hand, the Japanese yen fell to the weakest level since 1986, making traders speculate authorities may be soon forced to support the currency to stem the selloff. The Canadian dollar was 73.03 cents USD. The U.S. S&P500 ended the week up 0.2%, while the TSX was up 1.7%.

Most sectors ended the week in green. Technology gained 3.3%, while consumer staples and energy added 2.6% and 2.3%, respectively. Financial edged up by 2.0%. Industrials and real estate gained 1.2% and 1.0%, respectively. Materials and consumer discretionary ended the week up 0.6%, each. The most heavily traded shares by volume were BlackBerry, Victoria Gold, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

•  We’re too obsessed with cash, written by Callie Cox of Cautiously Optimistic.
• Standard Deviation: In Defense of an Often-Dismissed Investing Metric, by John Rekenthaler of Morningstar
• US stocks: Weird, flat, and setting confusing new records, written and published by Luka Kawa of Sherwood New
• Mean Reversion, or Extreme Aversion?, published by Albert Bridge Capita
• My All-Time High in Savings, published by Ben Carlson of Ritholtz Wealth Management LLC

Happy Reading & Stay Safe!

Disclosure: The analyst(s) responsible for this report do not have a financial or other interest in securities mentioned.