Commentary Archives

Canso April 2025 Market Observer

The Financial World Changed It is sad to think that no matter what we write about it, what happened in the first quarter of 2025 will bear no relevance to what’s happening now. The announcement of…

Canso April 2025 Corporate Bond Newsletter

The Hour Between Dog and Wolf To illustrate the turmoil that has characterized the last three weeks, below we plot the daily movements in high yield credit spreads dating back to 1997. Of little surprise, on…

Slater Quarterly Recap – Q1 2025

The Canadian Preferred Share market had a positive quarter to begin 2025 with the S&P/TSX Preferred Share Total Return Index (the “Index”) up 2.1%. Series F of Lysander-Slater Preferred Share Dividend Fund (the “Fund”), and Lysander-Slater…

Patient Capital January 2025 Commentary

Tariffs were the overhanging issue in financial markets since President Trump’s election in November. In a process that can be described as unconventional and somewhat chaotic, tariffs were announced on February 1st, 2025, and then on…

Fulcra Commentary – Q4 2024

Don’t put all your eggs in one basket … but what if it is The basket Market Commentary: With change, hope springs eternal. The start of a new US presidency always brings optimism … to some.…

Canso January 2025 Corporate Bond Newsletter

Fifty-Fifty In the fourth quarter, the Bank of Canada (BOC) implemented two consecutive 50 basis points (bps) rate cuts. The overnight rate in Canada, which started 2024 at 5%, now sits at 3% following the BOC’s…

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