Global equity markets were up 3.4% last week (up 1.9% in the prior week) despite the ongoing crisis in Ukraine, and escalating tensions between Russia and the U.S. We continue to expect equities to be under pressure in the near-term amid geopolitical tensions, supply-chain disruptions, high commodity prices, and increased restrictions/lockdowns in China to combat a recent surge in COVID-19 cases.
Valuations of gold producers were down 1% last week (up 3% previously); base metal producers were flat (down 7% previously). Juniors continue to lag seniors. We expect juniors to outperform seniors in the near-term, as they typically follow seniors (during a rally).
As of March 21, 2022, the global MCAP of cryptos is US$1.88T, up 10% MoM, and 6% YoY.
As of March 21, 2022, there are 3,142 retail cannabis stores in Canada, an increase of 33 stores WoW, including three in Alberta, three in B.C., and 27 in Ontario.
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