Market Recap* – October
Canadian equities +0.97% after a 25 bps BoC cut to 2.25%; U.S. equities +2.34% after a Fed cut to 3.75%–4.00%. Bonds returned 0.69%, and a weaker CAD (1.3981) modestly lifted international holdings.
Market recap
Embark’s Head of Investments shares regular market recaps to help families understand what moved the markets—and what it could mean for education savings.
About Yelena Stepanyan, CFA, MBA
Yelena Stepanyan, CFA, MBA, is Head of Investments at Embark, overseeing approximately CAD $6.4 billion. With 25+ years in finance, she leads investment strategy, asset allocation, external manager oversight, new product development, and customer education. Yelena holds an MBA from the Ivey Business School and is a CFA Charterholder. She previously served as Chair of the Institutional Asset Management Committee at CFA Society Toronto and is a member of the Secondary School Relations Committee.
Outside of work, Yelena is a proud mother of three who strongly believes in education savings. She speaks four languages and is active in the community, giving back as a leader.
Latest Market Recaps
Market Recap* – Week of October 20
Canadian stocks rose modestly while U.S. equities advanced on softer inflation; bonds were stable. A slightly stronger CAD and steady money markets aided near-maturity cohorts, with equity gains most beneficial to younger, equity-heavy investors.
Market Recap* – Week of October 13
Canadian and U.S. stocks ended higher despite soft Canadian data; bonds firmed, money-market returns stayed steady, and a weaker Canadian dollar modestly lifted foreign holdings.
Market Recap* – Week of October 6
Canadian and U.S. stocks fell on renewed trade tensions and political uncertainty; bonds were flat, and a softer Canadian dollar modestly boosted foreign equity returns.
Market Recap* – September
September delivered broad gains: TSX +5.4%, S&P 500 +3.65%, MSCI EAFE +3.28%. Canadian bonds rose 1.89%, T-bills gained 0.27%, and a weaker Canadian dollar modestly lifted foreign returns.