Commentary Archives

The S&P 500 has been Flying High; Now May be the Time to Diversify

US Market is Flying High The S&P 500 Index1 (“S&P 500” or the “Index”) has been on a tear. As of August 31, 2025, the Index hit an all-time high returning 9.8%, year-to-date, after it returned…

Slater Quarterly Recap – Q2 2025

The Canadian Preferred Share market had a volatile 2nd quarter but ultimately finished strong with the S&P/TSX Preferred Share Total Return Index (the “Index”) up 4.6%. Series F of Lysander-Slater Preferred Share Dividend Fund (the “Fund”),…

Canso July 2025 Corporate Bond Newsletter

Steep Learning Curve Interest rates have been on the rise since the end of the first quarter, particularly in the long-end of the curve. From March 31st until time of writing, Canadian long bonds have risen 66…

Patient Capital Quarterly Commentary – Q2 2025

North American equity markets delivered robust, though volatile, performance through the second quarter of 2025, buoyed by resilient economic data, moderating inflation, and increasing investor confidence in a potential soft landing. Despite a sharp sell-off in…

Weighing In on the First Half of 2025

Dear Investors, We’re now halfway through the year, and as of June 30th, the Series F units of Lysander-Fulcra Corporate Securities Fund have returned 2.0% for 2025. Credit markets continued to recover from the initial shock…

Canso July 2025 Market Observer

Uncertainty Breeds Market Contempt The theme of our April 2025 Market Observer was that only a fool would try to predict what would happen to the financial markets and the global economies after Donald Trump declared his Tariff…

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