Despite Russia’s invasion of Ukraine, four of the seven indices we track reported gains. We believe the primary reason for this robustness is that central banks are likely to be less hawkish; note that slow rate hikes are positive for equity markets.
Valuations of gold producers were down 6% (up 3% previously) last week; base metal producers were up 2% (down 7% previously).
Prices of mainstream/popular cryptos increased 2% on average last week. As we are expecting volatility in the S&P 500, crypto prices could be under pressure this week. On a positive note for cryptos, the sanctions on Russia by the U.S. and the EU have resulted in a significant increase in crypto trading volumes in Russia and Ukraine.
As of February 28, 2022, there are 3,083 retail cannabis stores in Canada, an increase of 13 stores WoW, including five in Saskatchewan, four in Alberta, two in Quebec, and two in Yukon.
