On Friday the S&P 500 was down 0.5% and Toronto was down 0.7%.
Year to date, the S&P 500 is up 7.2% while Toronto is down 3.3%.
On a positive note bond yields did retreat somewhat in the past few days.
Next week, the market will react to the latest interest rate decision form the FED. Expectations are that they will leave the rate unchanged.
The Q3 earnings reports will continue to come in from Canadian companies. Companies with high debt levels and with debt maturing and needing to be refinanced at today’s higher levels are vulnerable.
My article on preferred shares is updated.