Important information
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Some references are US centric and may not apply to Canada.
All figures are in US dollars.
Past performance is not a guarantee of future results.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
All investing involves risk, including the risk of loss.
Fluctuations in the price of gold and precious metals may affect the profitability of companies in the gold and precious metals sector.
Treasury securities are backed by the full faith and credit of the US government as to the timely payment of principal and interest. show less
Disinflation, a slowing in the rate of price inflation, describes instances when the inflation rate has reduced marginally over the short term.
The Federal Reserve’s “dot plot” is a chart that the central bank uses to illustrate its outlook for the path of interest rates.
The Eurozone (also known as the euro area or euroland) is an economic and monetary union of 18 European Union member states that have adopted the euro (€) as their common currency.
The federal funds rate is the rate at which banks lend balances to each other overnight.
Inflation is the rate at which the general price level for goods and services is increasing.
Tightening monetary policy includes actions by a central bank to curb inflation.
The Federal Open Market Committee (FOMC) is a 12-member committee of the Federal Reserve Board that meets regularly to set monetary policy, including the interest rates that are charged to banks.
PMI (formerly Purchasing Managers Index), a commonly cited indicator of the manufacturing sectors’ economic health, is calculated by the Institute of Supply Management.
The Institute of Supply Management (ISM) non-manufacturing survey is an economic index based on surveys of non-manufacturing (or services) firms' purchasing and supply executives.
The ADP National Employment Report measures nonfarm private payrolls. It is published monthly in collaboration with Moody’s Analytics.
West Texas Intermediate (WTI) is a type of light, sweet crude oil.
OPEC+ refers to the 13 members of the Organization of Petroleum Exporting Countries (OPEC) and 10 other oil-exporting non-OPEC members.
A basis point is one hundredth of a percentage point.
The opinions referenced above are those of the author as of October 9, 2023. These comments should not be construed as recommendations, but as an illustration of broader themes. Forward-looking statements are not guarantees of future results. They involve risks, uncertainties and assumptions; there can be no assurance that actual results will not differ materially from expectations.