Market Update June 2025

Protecting Your Wealth, Providing Income, and Positioning for Opportunity
A quick, clear look at what’s happening and how your portfolio is positioned.

What’s Happening in the Markets Right Now?

Markets rebounded in May, but uncertainty remains due to U.S. trade and spending policies shifting weekly. In Canada, inflation has dropped to 1.7%, largely thanks to lower gas prices, and interest rates are beginning to come down. In the U.S., inflation is rising slightly, driven in part by tariffs and ongoing government spending.

We’re also seeing signs of slower economic activity. Canadian manufacturing sales fell by 2%, and U.S. car sales have dipped. Meanwhile, a proposed $3 trillion U.S. spending bill has the potential to affect interest rates and broader market dynamics in the months ahead.

What This Means for You

Your portfolio is designed for these conditions and to protect your capital, provide stable income, and position you for long-term growth, without taking on unnecessary risk. Despite ongoing market volatility, your portfolio has remained steady.

What We’ve Done in Your Portfolio

We’ve made a few adjustments to keep your investments both safe and flexible. We’ve reduced U.S. bond exposure and increased cash position to 15%. We’ve taken some profit from gold while keeping a position in place. And we’ve added a small allocation to the Fidelity Global Innovators fund to maintain a foothold in growth opportunities.

Looking ahead, we may increase equity holdings and reduce international exposure with an eye toward stability.

Where You Stand Now

Your portfolio is currently overweight in cash, providing flexibility and protection. It’s neutral in fixed income and alternatives for consistent income. And while we remain underweight in stocks, we’re cautiously re-entering as opportunities arise.

Despite market fluctuations, your portfolio has stayed positive and continues to deliver reliable income.

The Bottom Line

Your plan is working despite the uncertainty. We’re protecting your wealth, ensuring steady income, and making thoughtful moves for growth as the landscape shifts. No need to react to headlines, your portfolio is on track, and as things change, we’ll adjust together.

We will continue to provide these monthly market updates so you can stay informed. If you have specific questions or topics you'd like us to cover in a future update, just send us a quick email. We’d be happy to include them.