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.
Markets moved higher over the week, supported by strong Canadian economic data and easing interest rate expectations in the U.S. Equities and bonds posted gains, money markets remained stable, and the Canadian dollar strengthened against the U.S. dollar.
Markets were mixed in July, with Canadian equities gaining on strength in the energy sector while U.S. equities ended little changed amid volatility around AI spending, oil prices, and interest rates. Bonds declined as inflation concerns resurfaced, money markets remained steady, and the Canadian dollar weakened amid ongoing tariff uncertainty.
Markets were mixed over the week, with Canadian equities gaining on strength in energy and materials while U.S. equities declined amid concerns about AI-related spending. Bonds weakened on rising inflation concerns, money markets remained stable, and the Canadian dollar softened against the U.S. dollar.
Markets moved lower over the week as weakness in technology stocks weighed on investor sentiment despite support from higher energy prices. Bonds posted modest gains, money markets remained stable, and the Canadian dollar strengthened against the U.S. dollar.
Markets moved higher over the week, supported by strong economic data and improving investor sentiment. Equities advanced, bonds declined modestly, money markets remained stable, and the Canadian dollar strengthened against the U.S. dollar.
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