Petra Carolan

Click here to read Leon Frazer’s latest commentary on equity markets and the economy in general.

The S&P/TSX Composite Total Return Index posted a -8.3% return, the 9th worst on record since 1957. The S&P 500 Total Return Index fared better in the United States, up 1.4% in local currency; however, when adjusted to Canadian dollars, the US market was up more than 20% for the third year in a row. After a record 19% decline in 2015, the Canadian dollar has decreased nearly 40% in the last 3 years. The Canadian market was the 3rd worst performing developed equity market in the world in 2015, ahead of only Greece and Singapore. Only 3 of the 10 market sectors registered positive returns last year, (Telecom, Consumer Staples and Technology) and just over 25% of stocks advanced, the second worst level in 20 years, with 2008 being the worst.

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