Market Ethos

Dollar drama

The canary and the consumer

20 July 2026
The Canadian economy has cooled, and the U.S. consumer is showing some softening signs as well. For now, the markets don’t care, or mind. But if the data gets worse, we will wake up one day and realize the market decided to start caring.

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couple discussing finances

Taking AI Inventory

28 July 2026
Nearly half the S&P is one theme. The same theme shows up as a chip designer in California, a foundry in Taiwan, a robot maker in Japan — and the risk isn’t the same in any two of them. There’s no sector tag that will surface it for you, and the fund or index you happen to pick can double it without asking.

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