Companies in our Top Picks list were up 2.9% last week vs 1.7% for the benchmark (TSXV).
Comments from the Fed indicate that they might start tapering bond purchases in October if jobs reports remain strong in August and September. We believe this reflects the Fed’s belief that the economic recovery is on track.
Due to vaccinations, we note that deaths to daily new cases have declined in highly vaccinated countries from the highs earlier this year (1-2%) to 0.3-0.5%. This compares to 0.13% for the flu in the U.S. Another data pointing to the success of vaccines is that more than 99.99% of fully vaccinated people have not had a case resulting in hospitalization or death (Source: U.S. Centers for Disease Control and Prevention).
Last week, U.S. cannabis stocks outperformed Canadian stocks as Ohio lawmakers introduced a bill to legalize recreational cannabis, while Mississippi lawmakers submitted a draft proposal for medical marijuana legalization.
