2017 Q1 Newsletter March 31, 2017
There was no shortage of political drama in the first quarter of 2017. The installation of President Trump and his administration, which many had expected to cause instability in the capital markets, had quite the opposite effect in reality. Indeed the broad market indices in North America returned positive results, and market volatility, as measured by the CBOE Volatility Index (VIX), remained near historic lows throughout the quarter. Alongside strong capital markets performance, North American economies continued to strengthen with the creation of 533,000 jobs in the US and more than 82,000 in Canada. Interest rates remain contained despite stronger GDP fundamentals and some early signs of inflation.
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