5 from 5i: Can the bond market be timed?

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Market View

TSX opened lower this Friday, ahead of the release of an important US jobs report. This report would be an important parameter for the US Federal Reserve’s interest rate decision. Gold prices were unchanged and Asian markets mixed. OPEC oil output sank to a new five-year low in June from losses in Iran and Venezuela due to US Sanctions. The Canadian dollar was 76.24 cents. U.S. S&P500 was up 1.6% this week and TSX ended the week up just 0.2%.

It was a mixed bag this week with more greens than red. Industrials and technology jumped the highest at 2.8% and 2.7%, respectively. Followed by utilities 1.8%, consumer discretionary 1.4% and telecommunications 1.2%. Materials slid by 1.0% and healthcare by 0.5%. Energy distributor UGI announced its plan to purchase some assets of Columbia Midstream Group from pipeline operator TC Energy for ~$1.28 billion. This move was made to expand its midstream business. The most heavily traded shares by volume were Barrick Gold, Encana and B2Gold Corp.

5 from 5i

Here are five reads we found interesting last week:

-Can you time the Bond Market?

-Returns from trend following strategies

-Summary of June 2019 performance of major asset classes

-Value has lagged not just in the US, it’s a global phenomenon

-Why corporate profits are overstated (Long read)

 

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