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Binnacle Financial

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May 2023 market update

Inflation ticks higher in Canada Rising mortgage and transportation costs are driving Canada’s inflation rate higher. Inflation reached 4.4% in April, missing the 4.1% figure economists expected. Meanwhile, the U.S. Federal Reserve Board (Fed) raised the target range of its federal funds rate by 25 basis points, from 5.00 to 5.25%. After 10 consecutive increases, the Fed has suggested it may soon consider a pause. An impasse over the U.S. debt ceiling weighed heavily on financial markets over the month, as U.S. lawmakers struggled to come to an agreement. The months-long stalemate highlighted the risks that a default could push the economy into a recession. Read the full market commentary on canadalifeinvest.ca, including the following topics: *Canadian inflation accelerates *The Fed considers a pause *The U.S. debt ceiling disagreement weighed on sentiment *Global manufacturing activity weakens

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2023 Federal budget analysis

The federal government released the 2023 Federal Budget on March 28. Our experts have reviewed the newly released proposals to provide you with insightful analysis and commentary on the changes that could affect you, your clients or your business.

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Forget the inheritance

Forget the inheritance. Why cash gifts in early adulthood are a smart financial move – for parents and kids

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Why Gen Xers are shying away from seeking financial advice

Gen Xers are in a particularly vulnerable position when it comes to finances and retirement planning with better health and living longer so they need more retirement savings than their predecessors, when is best time to speak to a financial advisor?

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