It is a remarkable deja vu to behold: the Canadian stock market in June 2014 is once more within striking distance of its all time global-debt-fuelled-consumption-commodity-bubble-peak briefly seen 6 long years ago in June 2008. Four short months later, the index had lost 50% of its value by October 2008 (as it also did from its previous peak in the 2000 dot-bomb implosion). But Canada has much more going for it today than in 2007-08 right? With our top 3 world’s most expensive real estate markets, most indebted consumers ever and weakening global demand for our exports, surely this time will be different?
Follow
____________________________
Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
;
