Economic Highlights:
Interest Rates: The Bank of Canada implemented a 25 basis point rate cut, bringing the policy rate to 3.0%, aiming to support economic growth amid global uncertainties.
Retail Sales: Retail sales declined by 0.4%, indicating cautious consumer spending.
Trade: Imports of goods and services increased by 0.4%, with higher imports in motor vehicles and parts. FinMarkets Infrastructure & DataBest Stock Market ToolsGlobal Affairs Canada
Market Movements:
TSX Performance: The index remained relatively flat, with gains in utilities offset by declines in consumer discretionary stocks.
Bond Yields: Canadian 10-year bond yields decreased, reflecting investor demand for safer assets.
Strategic Insights:
Diversification into defensive sectors, such as utilities and consumer staples, may provide stability.
Lower interest rates enhance the attractiveness of dividend-paying equities and real estate investment trusts (REITs).
