Retire First Newsletter

December 2019 –

Santa Comes to Wall Street  by Doug Allan

As 2019 comes to a close it appears that the North American stock exchanges, as represented by the S&P 500 and the TSX 300 index, are going to go down into the history books as having one of their best yearly performances since 2013. Europe will come in with a distant third place, especially when currency losses are factored in. However; emerging markets like China and India are likely to end up posi􀆟ve, but likely in the single digit range not even recovering last year’s losses.

In China, for example, financial warning signs are flashing almost everywhere. The Chinese financial stability board now says that 15% of the 5,500 banks in China are now considered high risk. While they are quick to relate their dire situa􀆟on to trade with the USA, the reality is it’s likely deeper than that.





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