Tyler Hadfield - Investment Advisor

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Tyler believes the most successful wealth managers have focused on minimizing tax, investing for the long term, maintaining a bias toward equity ownership, capital preservation, along with the careful management of downside risk through diversification.

06/01/2026

Last Friday, Statistics Canada (StatsCan) reported that Canada’s economy fell into a technical recession after contracting for a second straight quarter in the first quarter of 2026. The results suggest Canada’s economy has come under pressure amid trade, geopolitical tensions and higher prices.

This week, we will get some insight into Canada’s labour market, another area that is being challenged and weighing on overall growth. Looking abroad, investor attention continues to be on the negotiations of a peace deal between the US and Iran. Here are some key scheduled economic announcements to watch for this week.

05/29/2026

The US Bureau of Economic Analysis (BEA) released some critical US inflationary data yesterday. Data showed that US inflationary pressures are accelerating as the conflict in the Middle East pushes up energy prices and is weighing on consumer spending.

Meanwhile, a second estimate showed that the US economy grew at a slower pace than the first estimate. The US economy appears to be showing its fragility amid elevated geopolitical tensions and ongoing trade disruptions.

05/28/2026

Another report released on Tuesday showed that US consumer confidence is falling amid rising prices, which is putting the squeeze on consumers and raising uncertainty on the overall health of the US economy.

Tuesday’s report from the Conference Board showed that consumer confidence is deteriorating as a result of current expectations, which matched the University of Michigan’s gauge of consumer confidence released last week. Consumer confidence is widely considered a leading economic indicator. Here’s more from the Conference Board’s report.

05/27/2026

Data from 2026 thus far has shown Canada’s labour market conditions slowing with the economy losing jobs and the unemployment rate moving higher. However, Bank of Canada (BoC) External Deputy Governor Nicolas Vincent said that the labour market may not only be slowing down, but it may also be going through a structural change.

Vincent believes this is evidenced by its current “low-hire, low-fire” environment. While the BoC can make monetary policy changes to help support the labour market, shifting monetary policy is less effective during times of structural change.

05/26/2026

Last Friday, Statistics Canada (StatsCan) reported that Canadian retail sales jumped higher in March 2026. On the surface, the growth in retail sales was an encouraging number. However, a closer look beyond the headlines showed broad-based spending began to decline as higher oil prices took hold.

The majority of Canadians’ spending in March was related to gasoline prices, whereas non-gas sales declined. Canadians have been resilient amid trade and geopolitical tensions, but higher inflation clouds the spending outlook.

05/25/2026

Last week, global investors were relatively optimistic on hopes the US and Iran were working towards a peace deal. However, the two sides remain in negotiations, leaving the Strait of Hormuz effectively closed, which is helping to keep oil prices high. Higher oil prices are pushing up inflation around the world and raising concerns that consumer spending will be impacted.

Last week in Canada, data showed that the annual inflation rate increased in April. And while retail sales increased, it was mostly due to higher gasoline prices. Economic uncertainty persists, leaving markets to carefully analyze each and every scheduled economic announcement.

05/22/2026

Optimism among Canadian small businesses plummeted in May, falling to its lowest level since October 2025. Small businesses are expressing concern about the economy, demand and rising prices. Canada’s economy was already facing significant uncertainty given ongoing trade tensions with the US and the review of the Canada-United States-Mexico Agreement (CUSMA).

Now, the conflict in the Middle East has raised oil prices, putting upward pressure on inflation, and raised concerns about the strength of economic activity.

05/21/2026

Statistics Canada reported that Canada’s annual inflation rate accelerated in April, which was widely expected as the conflict in the Middle East continues to push up the price of oil. Canadians are now facing the highest rate of inflation since May 2024.

The good news is that headline inflation was lower than expected in April, suggesting higher energy costs have not yet had a significant impact on prices in other sectors of Canada’s economy. Still, the risks of more broad-based inflationary pressures persist.

05/19/2026

The short week will bring with it plenty of critical economic announcements out of Canada, which will help guide the Bank of Canada’s (BoC) next interest rate decision on June 10. Geopolitical tensions will continue to take centre stage as the US and Iran have been unable to reach an agreement to end the conflict between them, while the US and China consider their respective relationships with Taiwan.

Financial markets were jittery at the end of last week with oil prices continuing to increase, raising concerns that inflationary pressures could go higher and might force central banks to raise interest rates.

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9th Floor, 730 View Street
Victoria, BC
V8W1J8

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