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In April, the Bank of Canada announced that it would launch both a $50-billion Provincial Bond Purchase Program and a $10-billion Corporate Bond Purchase Program. The former began operations on May 7th and the latter on May 26th.

In late 2015, the Liberal Party was elected with a plan to nearly double federal infrastructure investments over the following decade. “Every dollar we spend on public infrastructure grows our economy, creates jobs, and strengthens our cities and towns,” said Justin Trudeau during his 2015 election campaign.

Investors headed towards the end of 2019 in an optimistic mood as two policy risks that were plaguing sentiment throughout the year receded in December, while some nascent signs of a stabilizing global economy also buoyed risk appetite. Of note, the US and China managed to agree on the details of a “phase one” trade […]

With the phase 1 agreement officially on paper, the Chinese Yuan has returned to the level it was before the trade war hit its culmination point in August – on January 15th, the PBOC set the currency at 6.8845 USD/CNY (0.14525 CNY/USD), its strongest since the end of July last year. Yet the U.S. 10-year […]

In a normal yield environment, long-term bonds come with a higher yield than shorter bonds, allowing owners to roll down the yield curve.

Just as one source of investor angst faded at the beginning of 2020, another intensified. After simmering trade tensions fueled a blockbuster start to the year, sentiment took a turn for the worse after the outbreak of the Wuhan coronavirus threatened to derail an already-fragile global growth backdrop. The epidemic, and efforts to contain it […]

Description: Fiera Capital's Global Chief Investment Officer, François Bourdon, shares his outlook for financial markets over the next 7 years.

Once upon a time, the bond roll down provided just that. The roll down allows buy-and-hold investors to generate gains beyond just the coupon on their bonds. Under a normal (that is, upward-sloping) yield curve, as longer bonds age, they are discounted using a lower rate as they come down the yield curve. For example, […]

Nicolas Vaugeois, Portfolio Manager, Global Asset Allocation, discusses the benefits of investing in emerging market bonds and shares his current underweights and investment ideas for 2020.

Traditionally, risk and return are the two most important considerations in the realm of investment management. Modern Portfolio Theory hypothesizes that investors can construct optimal – or “efficient” – portfolios which maximize expected returns by taking on a quantifiable and specific amount of risk.