June Markets

The A.I. driven technology trend continued through June with major U.S. markets all positive for the month with fresh stock market records to celebrate. Canadian markets on the other hand lagged, turning in a negative month. Canada’s market contains more resources than tech and a heavier weighting in financials meant our sector mix just wasn’t in the sweet spot. A weakening loonie due to Canada’s interest rate cut also makes us less attractive to U.S. investors creating a near term selling bias.