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WELCOME,
We are very pleased to send you our monthly financial newsletter to keep you abreast of financial markets and world economy. We hope that you will enjoy reading these articles. As always, we welcome your comments and questions.
Enjoy your reading!
Team Beauregard Farina Tourangeau
1250 René-Lévesque Blvd. West
Suite 1500
Montréal, QC
H3B 4W8
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Market Returns
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Value as of
Mar. 31 2016*
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2016
Year to date
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2015
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S&P / TSX
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13,494
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3,7 %
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-11,1 %
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S&P 500
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2,060
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0,8 %
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-0,7 %
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Euro Stoxx 50
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3,005
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-8.0 %
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3,8 %
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MCSI emerging markets
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837
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5.4 %
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-17,0 %
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Oil ($US/Barrel)
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$ 38.34
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-4.1 %
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-38,8 %
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Gold ($US/oz)
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$ 1,236
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16.4 %
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-10,8 %
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$CAD / $USD
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$ 0.77
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6.8 %
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-16,5 %
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Source : Bloomberg, Richardson GMP Limited
*Values are in local currency
For an updated performance table, please contact us.
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Investment Strategies
Traders are starting to bet big on emerging market
If you're following the money, it looks like emerging markets are back. Since early March, net flows into the popular iShares MSCI Emerging Markets ETF (EEM) have topped $4.6 billion. We continue to see flow moving out of developed markets" and into emerging markets. The performance since the beginning of March has certainly been nothing to sneeze at. The EEM has risen some 15 percent in that time, versus an S&P 500 that is up just half that.
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Tax & Estate Planning Strategies
Full Federal Budget analysis: 2016
Canadians have been anticipating significant changes in tax legislation since the Liberal government was elected in October 2015. The party platform indicated that taxes would be increased for high income families and tax rules would be tightened for sharing or deferring income to reduce taxes within corporations.
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In the news
Gloom about oil-price shock overblown
It's undeniable that the prolonged decline in the price of crude has had a significant negative impact in certain regions of the country. However, Canada's economy is more diversified than we're giving it credit for. Canada's resource wealth has not gone away. A market price correction does not mean that an enviable national asset has suddenly become a liability.
Economic fundamentals remain strong, noting that low interest rates, steady job growth and low fuel prices have boosted consumer spending in most regions of the country.
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The benefits of falling oil price and loonie
The Bank of Canada says the majority of companies polled in its latest business outlook survey have reported increasingly tangible benefits since the oil price shock started to drive down the Canadian dollar. The central bank's quarterly survey of about 100 Canadian firms revealed Friday that, in most cases, the weaker loonie has helped exporters such as manufacturers boost their margins through products sold abroad.
There was however a sharp divergence in opinion depending on how closely tied the company was to the energy industry.
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Global economic lift
Closely watched strategist Jim Paulsen sees two scenarios playing out in markets this year - and both involve Fed rate hikes. In the first, concerns about global growth persist, but the Fed is forced to raise rates this year because of inflation in wages and core prices. In a more positive and equally likely scenario, Paulsen sees global growth picking up, allowing the Fed to raise rates into economic strength.
In the near term, stock valuations look high and investors are getting mixed messages as full employment butts up against the prospect of rising interest rates, Paulsen said. In that environment, the market is likely to bounce around a lot, but not go very far, he concluded.
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Eddy Farina, Fin. Pl., CIM
®
Senior Vice President, Investment Advisor 514.981.5727
" Everything should be made as easy as possible, but not simpler. "
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514.981.5727 |
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Richardson GMP embraces fiduciary excellence. Read more
DISCLAIMER
The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Assumptions, opinions and estimates constitute the author's judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own legal or tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances. Insurance services are offered through Richardson GMP Insurance Services Limited in BC, AB, SK, MB, NWT, ON, QC,NB,NS,PEI and NL. Additional administrative support and policy management are provided by PPI Partners. Richardson GMP Limited is a member of Canadian Investor Protection Fund. Richardson is a trade-mark of James Richardson & Sons Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited.
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