With Family Day just behind us, it’s a short work week here in Edmonton. We hope you had a great long weekend with your loved ones! Coming back into the office, we know many of you are feeling one of two things: relaxed from having an extra day off, or extra busy diving into the work week on a Tuesday. We hope it’s the former!
Here at The Wooding Group, we often share blog posts about the markets, financial planning, philanthropy, community events and other topics of interest to our clients. Our team is dedicated to sharing knowledge and resources as widely as we can, but sometimes, it’s good to focus on something different. Our team understands the value of leisure, self-care and spending quality time with the people who mean the most to you. In that spirit, this week’s blog post is dedicated to some of our favourite seasonal leisure activities here in Edmonton.
Bond investors now seem in the throes of a true bear market, but looking way over yonder, beyond 2019, there could be some light shining through. That reflects a potent economic breaking force that could hit the US economy beyond this decade, in addition to the slowing that will be induced by our expectation for 150 bps of Fed rate hikes in 2018/19.
That drag could come from a significant fiscal contraction. Congress recently approved spending levels well above previous caps. CBO estimates for the resulting outlays show a lift of $161 bn in fiscal 2019, but that shrinks to only an additional $58 bn for fiscal 2020 and almost nothing beyond that.