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Midpoint of the Year

Wednesday, July 3, 2013
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.

Russ MacKay

(Source: Bloomberg, YTD to July 2, 2013, C$)


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