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Global Markets Trying to Overcome Economic Challenges

The chart below looks at the return of the stock markets from the ten largest economies in the world. It shows how far those markets have dropped from their prior high (peak level) and how long ago that peak was reached. The data shows that the US equity market has been the most stable but…

The Limits of Economic Experimentation

Pacifica Partners Spring 2016 Quarterly Commentary: This quarter’s newsletter gets its title from the growing global trend towards the acceptance of negative interest rates as a component of mainstream economic policy.  Negative interest rate policy (NIRP) is increasingly being seen as an act of economic desperation by the markets. Currently, the central banks of Europe,…

Taking an Inventory of Investor Worries

The Pacifica Partners Winter 2016 Quarterly Commentary: Most years, financial markets tend to rally in the month of December. As the 2015 holiday season wound down, investors found that Santa had deprived them of their traditional yearend rally. Instead of a rally, investors were left showered with volatility to close off 2015 and clinging to…

US Consumers Riding to the Rescue Again

The Pacifica Partners Fall 2015 Quarterly Commentary: There are not many things in finance that one can find a near perfect consensus on. One that comes close to unanimity is the notion that the current regime of low interest rates globally has about run its course in being able to accelerate economic growth. Simply put,…

Mr. Xi Goes to Washington

One would have to go back a long way to remember when China’s place in the world was even up for debate. As Chinese President Xi Jinping came to the US for his first state visit last week and second visit as President of China, many are looking at China through a slightly different lens…

Low Interest Rates a Fading Solution

The last several months have served as a reminder to the global financial markets that the work of central banks is not done yet. Nearly six years after the last recession ended the world finds itself still guessing as to when interest rates will finally begin to rise. As Europe is so clearly illustrating, central…

LNG Promises Steeped in Forecast Risk

The government of BC staked a great deal of the province’s future prosperity on its ability to work with the energy industry to harness BC’s natural gas reserves for export to the energy hungry nations of Asia. To further underline the future potential, the government has stated that it would follow in the footsteps of…

Debating the Return of Inflation

When the world’s central banks decided to undertake a zero interest-rate policy and then to inject money into the global banking system to levels that were previously unforeseen, there was widespread fear that this would eventually unleash an inflationary firestorm. Our take was, and is, that these worries were misplaced because ...   Debating the…

An Embarrassment of Riches

One of the few things Wall Street, Main Street and politicians of all stripes can agree on is that the economic recovery since the last recession has been slower than expected. If we listen closely to the speeches of various policy makers, there is an undertone of frustration in their voices. An Embarrassment of Riches…

CBC Television: Lang & O’Leary Exchange

Pacifica Partners' Naveen Gopal, Vice President of Client Services, was interviewed by Kevin O'Leary and Amanda Lang on the February 27th, 2014 airing of "The Lang & O'Leary Exchange."   The topic of discussion: Canadian baby boomers and their reliance on home equity to fund their retirement and timing it right if you plan to tap…
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