Midpoint of the Year
by Russ MacKay
We have now reached the midpoint of 2013, and many of the global equity markets continue to outpace the Canadian market. The S&P 500 and the Nikkei have each delivered strong double digit returns of +21% and +25%, respectively, while a number of European markets continue to climb higher; Switzerland +18%, Sweden +12%, Germany +7%, UK +7%, and France +9%. Canada continues to struggle, turning in a -0.50% so far this year.
It has not been rosy in China and the Emerging Markets, with the Hang Seng down -6%, and the MSCI Emerging Markets Index down –5%.
Over on the fixed income side bonds have had a challenging first six months, down -1.73% (as outlined in the previous blog posting).
We continue to encourage investors to hold a diversified portfolio of global equities, with a preference for dividend paying stocks.
(Source: Bloomberg, YTD to July 2, 2013, C$)