MARKET SUMMARY— Canadian equities have been laggards on a global relative basis with the S&P/TSX Composite and S&P/TSX Venture each returning less than 2% year-to-date. August was however a positive month as both the Composite and the Venture advanced 67 bps and 86 bps (total return) respectively. The Bank of Canada moved a second time in September, lifting the overnight rate to 1% and signaling their expectations for more rapidly accelerating economic conditions at home.
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