A. North American Equity Market Statistics
During the second quarter, the Canadian equity market as measured by the S&P/TSX decreased by 0.73%. Year-over-year, the index increased 11.2%, including dividends. The markets continued to be preoccupied with the action of the Central Banks as they focus on inflation and how to get it down to more “acceptable levels”. The large rise in interest rates throughout most of 2023 weighed heavily on capital intensive businesses that typically utilize higher levels of debt on their balance sheets. This included banks, real estate businesses, along with utilities/infrastructure companies.
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