Happy Holidays
As we head into the holiday season, we wanted to extend our thanks on behalf of the entire Gallant MacDonald team...Continue reading
Watch the Consumers
This may be our favourite anecdotal data point when it comes to judging consumer behaviour and market euphoria...Continue reading
2023 Visualized
We have finally found the perfect set of charts to sum up the equity market this year. ...Continue reading
Leading Indicators
We have shared some anecdotal evidence from business owners relating to labour markets loosening from the post-pandemic boom, and the data is finally supporting those anecdotes...Continue reading
Labour Loosening
A common goal of this missive is to offer some data around anecdotes we hear regularly. Lately, there has been a lot of talk regarding layoffs, hiring freezes, and a general unwind of some of the over-hiring of the pandemic era...Continue reading
Sizing Up
A fascinating visualization of the difficulty in managing larger teams remotely. Gallant MacDonald has a disbursed team, and we have found it relatively straight forward to maintain connectivity...Continue reading
How Will You Be Paying?
With the steady grind higher in rates, it is no surprise to see delinquencies starting to tick up. This isn’t limited to credit cards...Continue reading
Generational Shift
Another chart putting data behind something we all intuitively know – there are less people getting married (and they are doing it later)...Continue reading
The Cycle?
There has been no shortage of headlines of late regarding commercial real estate...Continue reading
Context
This is the best chart we have seen that describes the true velocity of this rate hiking cycle. Ultimately, hiking cycles tend to continue until something breaks...Continue reading
Empty Nesters...?
We have all heard the anecdotal stories about more young people living at home. We love seeing the data behind the tales, and this one checks out...Continue reading
End of an Era
This chart is one with which we’ve always struggled. Negative yielding debt wasn’t just a short-lived anomaly, it consisted of many years with trillions of dollars of bonds that cost you money to own...Continue reading
A Time to Celebrate
This month we deliver our annual break from data and analysis to wish you and yours a very happy holiday season....Continue reading
The Path
There was, deservedly, widespread excitement this past month that headline inflation had at last peaked. We have been seeing the trend in declining inflation for a few months...Continue reading
This Too Shall Pass
In an era of doom-and-gloom headlines, we periodically like to go back to the basics. If you believe that humanity will continue to progress, you can expect the chart above to continue along the trendline...Continue reading
Opportunity
This chart became dated faster than we would've liked in the days leading up to this edition of Insights. It highlights the fact that, even factoring in an impending recession, valuations are quite compelling in certain corners of the market...Continue reading
Consensus
Hiking interest rates is now officially as trendy as it has ever been for central banks around the globe...Continue reading
House Hurt
Given we are good patriots, we have to periodically comment on every Canadian’s favourite topic, housing. The rapid and continuing rise in interest rates has driven affordability to near record lows...Continue reading
Perspective
You might think that there are bearish comments coming based on the chart above, but we will try to strike a tone of optimism at a time where few seem capable of it...Continue reading
The Cycle
Sorry to make you squint! A great summary of the emotional journey the majority of people go through during a market drawdown. After a quick review, you may infer that doing the exact opposite of the herd is the intuitive and profitable course of action...Continue reading
What Goes Up
We found this chart particularly interesting as it likely defies most people's intuition on what has driven the market higher in recent years...Continue reading
Path Dependency
Markets have been off to an unsurprisingly rocky start to the year, due to a combination of the ongoing tragedy in Ukraine and central banks leaning further towards aggressive rate hikes... Continue reading
Wage Wars
The sticky issue with inflation is proving to be substantially more challenging to tackle than policymakers' messaging would have suggested through 2021 and into this year... Continue reading
Back to Reality
As we all know, technology stocks (particularly those in the U.S.) remained some of the largest beneficiaries of the incredible amount of monetary and fiscal stimulus poured into the economy over the last two years...Continue reading