Global equity markets rebounded last week (up 1.6%; down 5.1% in the prior week), despite strong hints of rate hikes in March from the U.S. and Canadian central banks. Although labor markets are improving, we believe central banks are unlikely to pursue aggressive rate hikes, as the global economic recovery is expected to be slower than expected.
Valuations of gold producers were down 3% (previously flat) last week; base metal producers were down 1% (previously down 4%).
Prices of mainstream/popular cryptos increased 1% on average last week, due to an increase in the S&P 500, and lower gold prices, partially offset by lower crypto trading volumes.
As of January 31, 2022, there are 3,017 retail cannabis stores in Canada, a WoW increase of 22 stores, including 10 in Ontario, four in Manitoba, three in B.C., three in Newfoundland, one in Alberta, and one in Quebec.
