Making sense of the markets this week: July 28, 2024 Jul 26th

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Wall Street declines after Trump's fresh tariffs on Canada - Reuters + MORE Mar 11th

Wall Street declines after Trump's fresh tariffs on Canada ReutersMarkets today: Wall Street’s sell-off worsens after Trump ups the ante in his trade war CTV NewsDow tumbles as stock market rout continues CNNThe Daily Chase: Escalator up, elevator down B.... More »

RESPs 101: The RESP withdrawal rules + MORE Aug 16th

With a new school year here and academic fees due soon, you might be budgeting for the next eight months and planning a withdrawal from your registered education savings plan (RESP). While an RESP is the best way to save for just about any post-secondary education—more on that shortly—there are .... More »

The MoneySense guide to inflation (2025) + MORE Dec 4th

Inflation is the increase in the cost of goods or services. Governments use this valuable information to set monetary policy. In turn, lenders and banks also rely on inflation numbers to set interest rates, and borrowers use them to make investment or budgeting goals. We’ll explain how inflatio.... More »

How to fund accessible home renovations in Canada + MORE Jul 5th

My house, as I told my insurance broker recently, is the Canadian housing equivalent of ancient. Built in the 1910s in Saskatoon, this house has many foibles. To hang pictures, I have to use wood screws lest regular nails bounce off of the layers and layers of paint. My basement is a little more tha.... More »

Top 100 dividend stocks in Canada 2025 + MORE Jan 23rd

Overview Top 100 Dividend Stocks Past Performance Methodology Best Dividends in Canada Table of Contents OverviewPa.... More »

Making sense of the markets this week: July 28, 2024

– moneysense.ca

Michael McCullough is a contributing editor to MoneySense and a financial writer and editor in Duncan, B.C.

Biden’s withdrawal soothes bond market, deflates “Trump trade”

Compared to the way U.S. President Joe Biden’s decision not to run for a second term shook the political world, the markets seemed nonplussed—on the surface, at least.

Biden’s U-turn took some air out of the “Trump trade” in stock, bond and cryptocurrency markets. Stock markets overall rebounded the day after the announcement, with mega-cap technology stocks leading the way. But oil and gas stocks and cryptocurrencies—foreseen to fare better under a Donald Trump administration—retrenched.

The Republican nominee is seen as a bigger deficit spender than whomever the Democrats might settle on, so a Trump/Vance administration is expected to usher in higher inflation. That recently translated into a steeper yield curve for bonds as polls showed him ahead of Biden. However, that expectation of Trump as an inevitable shoo-in has now deflated and bond yields have flattened somewhat…

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