Monthly Archives: July 2025

Macro updates for dog days of summer 2025

Economist Lacy Hunt offers a sobering look at the long-term economic forces shaping the U.S. outlook—and why inflation might already be in retreat, even as the Federal Reserve stays cautious. He argues that we’re in the midst of a disinflationary … Continue reading

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Mindless flows are not loss protection

Vanguard founder and ETF pioneer, Jack Bogle, warned that if index funds came to own half of the U.S. stock market, it could lead to significant issues, like too much influence concentrated in just a few institutional owners, which he … Continue reading

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Financial health is a marathon

Toronto-area home sale prices dropped by 5.4% annually in June–the fifth consecutive year-over-year decline. While lethargy is glaring in condos, detached home sale prices fell the most, with a 6.5% year-over-year drop. The average Toronto June sale price of $1.01 … Continue reading

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