May Markets

While markets settled a little in the final days of May, last month provided its share of record-setting milestones:

• Canada’s S&P/TSX Index reached an all-time record high point

• Three U.S. primary stock market indexes, The Dow, The S&P500, and the tech-centric Nasdaq also clocked in all-time historical highs.

• Globally, the MSCI World Index* also shared an all-time record high in May

I guess we could say that’s a hat trick of global stock market optimism, a remarkable state given the challenges the world faced through our global Covid pandemic over the past 4 years. We are reminded on a grand scale through this experience that staying invested to ensure participation through the best times requires patience and discipline. As we move into the second half of 2024, the myopic view on interest rate expectations should transition to the reality that given time everything will adjust and global consumption will continue.