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.
Canadian and U.S. stocks fell as geopolitical turmoil and surging oil prices stoked inflation fears, while bonds lost ground and money markets held steady. The Canadian dollar appreciated against the U.S. dollar.
Canadian equities rose 7.72% in February on energy and materials strength, while U.S. equities declined 0.76% amid oil-driven inflation concerns and valuation pressure. Bonds returned 1.66%, money markets gained 0.17%, and the Canadian dollar slightly weakened.
Canadian equities extended gains on strength in technology and materials, U.S. stocks rose as tariff uncertainty eased, and the Canadian dollar weakened amid broad U.S. dollar strength.
Canadian equities rose on softer U.S. inflation and firmer commodities, while U.S. equities declined on tech-led profit taking. Bonds edged higher, money markets posted modest gains, and the Canadian dollar strengthened slightly.
Canadian equities finished the week higher, recovering from early volatility as resource and cyclical sectors rebounded. U.S. equities ended the week modestly lower, while bonds and money markets were broadly flat and the Canadian dollar weakened against the U.S. dollar.
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