The year in markets: stocks and bonds both tumbled in 'perfect storm'

  • 📰 TheStarPhoenix
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Investors had few places to hide this year.

As of closing Wednesday, Canada’s main stock index has dropped 12 per cent from the all-time high it hit in the spring. Bond markets, which typically move in the opposite direction to stocks, also fell sharply after central banks around the world aggressively raised interest rates to curb rising inflation.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

In response, stock markets lost steam and started to backpedal. The S&P/TSX composite hit a closing low for the year at 18,206.28 on Oct. 12 followed by an intraday low of 17,873.18 a day later on Oct. 13. Though it has climbed above the 19,500 mark over the past few months, a December stock boost has failed to materialize this year.

Some tech companies saw growth during the pandemic that supported those valuations, Mahajan said, but the trends started to cool during the reopening phase.Article content Headed into the new year, economic headwinds remain as economists point to the possibility of a recession to start the year. “As we kind of get through the first quarter or two quarters of 2023 we do think that those parts of the market may continue,” she said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 253. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Investors prefer bonds: How sleepy government bonds became the hot investment of 2022Treasury bonds paid out much more than usual this year. That's great for investors — but it could spell trouble for the government. Yes, we’re (lol) in a debt spiral from which it is mathematically impossible to recover from. Good topic but crap coverage. You couldn’t expand. Wait, wait, wait. I thought we were supposed to get excited about next investment: Zelensky.
Source: NPR - 🏆 96. / 63 Read more »