Market View

The US Federal Reserve raised interest rates by 0.75% this week, most since 1994. This led to a sharp selloff across the world. The US dollar rose this week, while gold prices feel. Sanctions on Iran sent oil prices higher. The Canadian dollar was 76.62 cents USD. U.S. S&P500 ended the week down 4.5%, while the TSX also ended the week down 5.2%.

Another week of dark reds. Energy slid by a whopping 15.2%, followed by real estate and materials, which declined 5.1% and 4.0%, respectively. Financials gave up 3.1%, while technology ended the week down 2.3%. The most heavily traded shares by volume were Athabasca Oil Corp, Cenovus Energy, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

• Russia’s war on the world’s food supply, authored by Matthew Yglesias of Slow Boring
• Awaiting the cure of high prices, posted on TKer by Sam Ro
• Stopping inflation is going to hurt, by Emily Stewart of Vox
• The latecomer’s guide to Crypto crashing, written by Amy Castor and David Gerard
• The Fed’s policy mistake has been made, by Cullen Roche of Pragmatic Capitalism

Happy Reading & Stay Safe!

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