IAIC Market Update - September 27, 2021

September 27, 2021

Last Week in the Markets: September 20th - 24th, 2021

(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?

Major domestic and international events influenced markets last week including:
The U.S. Federal Reserve kept its monetary policy for interest rates and bond-buying unchanged in its announcement on Wednesday indicating, “If progress continues broadly as expected the Committee judges that a moderation in the pace of asset purchases may soon be warranted.” (Source)
Concerns that China’s housing and property developer, Evergrande, could default on interest payments contributed to a decline in equity indices. Evergrande’s $300 Billion debt load and $100 Billion of real estate sales last year represent a significant concentration risk but should not threaten the stability of the global banking system.
The Liberals were re-elected to another minority government in Monday’s Canadian federal election gaining an additional two years, potentially, to their mandate. A significant mandate in their election platform is to increase taxes on Canadian major banks, which nearly every Canadian investor owns directly or indirectly. (Source)

What’s ahead for this week?

In Canada, employment numbers (new jobs, labour force participation, unemployment rate) for July will be announced. Real Gross Domestic Product (GDP) for July, an important indicator, will be released along with the industrial product price index and raw materials price index for August.
In the U.S., durable goods orders, goods trade deficit, wholesale, and retail inventories, pending home sales, home price index, personal spending and income, construction spending, automobile sales and Purchasing Managers Indices, all for August, are scheduled for release in a busy week.
Globally, Eurozone money supply, consumer and economic confidence, inflation and jobless rate will be released along with Japan’s jobless rate retail sales and industrial production and Germany’s consumer inflation and unemployment.

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