IAIC Market Update - February 28, 2022

February 28, 2022

Last Week in the Markets: February 21st - 25th, 2022

(source: Bloomberg https://www.bloomberg.com/markets, MSCI https://www.msci.com/end-of-day-data-search and ARG Inc. analysis)

What happened last week?

The most significant economic news from last week was politically generated. The uncertainty and depth of sanctions against Russia caused equity markets to drop early in the week before recovering.
The disruption to supply chains is expected to delay economic recovery and prolong inflation. For example, VW is ceasing production temporarily at two assembly plants in Germany since component parts have not shipped from Ukraine. Also, the price of oil breached $100 per barrel last week.
In the Ukraine/Russia crisis, we can expect economic sanctions on Russia to continue to increase, including Russian being excluded from the global payments system, SWIFT.
Increasing supply chain interruptions and commodity prices, like oil, will complicate the inflation situation as central banks attempt to slow the rapid rise in consumer prices. In Canada and the U.S., prices have increased at their highest level since the early 1980s.

What’s ahead for this week?

In Canada, January’s industrial product price index and raw materials price index, building permits, and Purchasing Managers Indexes for February will be released. On Wednesday morning the Bank of Canada will make a monetary policy announcement.
In the U.S., January’s wholesale and retail inventories, trade deficit, construction spending, factory orders, productivity and labour costs will be released. Purchasing Managers Indexes (PMI) from ISM and Markit will be announced. February’s non-farm payrolls are scheduled for late in the week, while President Biden is scheduled to deliver a State of the Union Address on Tuesday evening.
Globally, PMIs for several countries including China, Japan and the Eurozone, consumer inflation numbers will be released for Germany and Italy for February. OPEC+ will conduct a meeting, which will address the invasion and the delivery of oil and gas from Ukraine and Russia.

For more information contact:
Independent Accountants’ Investment Counsel Inc.
135 Main St. E. Listowel, ON
Phone: 519-291-2817 or TF: 1-877-291-3040
icpmss@iaic.ca

This report is produced by Independent Accountants' Investment Counsel Inc (“IAIC”) in conjunction with ARG Inc. All graph and chart statistical data contained in this report has been supplied by ARG Inc. The views and opinions expressed in this report are based on market statistics. No guarantee of outcome is implied and opinions may change without notice. Investors should not base any of their investment decisions solely on this report nor should any opinions expressed within this report be construed as a solicitation or offer to buy or sell any securities mentioned herein. Although the information contained in this report has been obtained from sources that IAIC believes to be reliable, we do not guarantee its accuracy, and as such, the information may be incomplete or condensed. All opinions, estimates and other information included in this report constitute our judgment as of the date hereof and are subject to change without notice.

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Southwestern Ontario's Top Employers Award

Southwestern Ontario's Top Employer Award Winner

February 5, 2025

We are th rilled to announce Ward & Uptigrove was selected as a recipient of the Southwestern Ontario's Top Employers Award for 2025. The award is based on the following criteria: 1. Workplace, 2. Work Atmosphere and Social, 3. Health, Financial and Family Benefits, 4. Vacation and Time-Off, 5. Employee Communications, 6. Performance Management, 7. Training and Skills Development, 8. and Community Involvement! Here are some of the reasons why Ward & Uptigrove was selected as one of Southwestern Ontario's Top Employers (2025): Ward & Uptigrove increased its full-time workforce in Canada by over 13 per cent in the past year and lets everyone benefit in the company's success with profit-sharing -- the company also offers generous referral bonuses of up to $5,000 per successful candidate as an incentive for employees to recruit friends Ward & Uptigrove hosts three major social events each year, giving employees the opportunity to unwind and connect with food, beverage and entertainment covered by the firm's partners -- events include a post-tax season party (employees plus a guest), a fall golf tournament, and an annual holiday celebration Ward & Uptigrove matches employee donations in kind, and encourages them to lend a helping hand in the community with a paid day off to volunteer Emily MacRobbie, human resources manager at Ward & Uptigrove, says clients appreciate the close connections and sense of care their small-town environment fosters. “We’re big enough to attract and retain some of the best and brightest minds in the industry, while simultaneously being small enough that staff and clients are known on a more personal level,” says MacRobbie. “Employees really appreciate the flexibility the firm offers, such as work location (in office or hybrid) and hours of work arrangements. We keep a pulse on what’s happening and make sure we remain competitive with things like paid time off and flexible health benefits.” To learn more about career opportunities at Ward & Uptigrove visit www.wardanduptigrove.com/careers