Lets Get Low, Low, Low

Wealth Awesome November Newsletter

Author

Qayyum Rajan
November 20, 2024

Welcome to the November edition of the Wealth Awesome newsletter. Thank you to the 15,000+ 🇨🇦 subscribers who join us today!

Interactive Brokers Canada Inc

We are huge fans of Interactive Brokers for Canadians. The most markets, the lowest commissions - whether you are an advisor or a DIY investor - they cover it all.

Summary

"Lets get low, low, low"

Canada’s inflation rate edged up to 2% in October after a sharper-than-expected drop to 1.6% in September, driven by a slower decline in gas prices and a record annual property tax increase of 6%. Excluding gasoline, inflation held steady at 2.2%, while grocery prices surged faster than overall inflation for the third consecutive month, fueled by rising costs for fresh vegetables and preserved fruits. Shelter inflation eased to 4.8%, but rents remain elevated, up 21.6% compared to 2021.

The Bank of Canada’s core inflation measures hovered around 2.5%, aligning with its forecast but tempering expectations for an aggressive December rate cut. Economists are split between a 25- or 50-basis-point reduction, contingent on upcoming GDP and labor market data.

Key Takeaways

  • Inflation Dynamics: A modest inflation uptick, largely driven by property taxes and groceries, signals persistent price pressures despite broader moderation.

  • BoC Decision Outlook: A smaller, cautious rate cut in December is likely as the central bank balances recent data with economic forecasts.

⏱️ TLDR: BOC under pressure relative to the rest of the world with our own micro dynamics

Key Takeaways đź’ˇ

1. Inflation Dynamics: A modest inflation uptick, largely driven by property taxes and groceries, signals persistent price pressures despite broader moderation.

2. BoC Decision Outlook: A smaller, cautious rate cut in December is likely as the central bank balances recent data with economic forecasts.

Canadian stocks over the last 30 days

Shopify absolutely crushed their earnings this quarter beating EPS expectations by 13% and revenue expectations by about 27%. Killer quarter for tech.

I had to rub my eyes checking their market cap which is currently at 196 Billion! A true Canadian success story.

40 Best Stocks In Canada (Nov 2024): The Ultimate List

Choosing the best stocks in Canada is a tall order. There are over 1,600 companies listed on the TSX. It can be overwhelming to choose from all of these stocks.

wealthawesome.com/best-stocks-in-canada

6 Best TSX Index ETFs For Canadian Stock Exposure (2024)

Canadian equity indices are the S&P/TSX 60 Index and the S&P/TSX Composite Index. We will cover the 6 best TSX index ETFs below and outline some of their key features.

wealthawesome.com/best-tsx-index-etfs

See you next month!

The Wealth Awesome Team

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