MacNicol’s Monthly Commentary- June 2019

I love pancakes, most people do. Pancakes are delicious, satisfying and a magnificent breakfast to enjoy before a day of sight seeing. They are also flat. Really flat. So flat is my guilty breakfast pleasure that they take me back nearly 20 years to an evening I spent at the Yuk Yuks Comedy Club in downtown Toronto. In one particular act a comedian was making an affectionate mockery of the great Canadian province of Saskatchewan. The punch lines took aim at – what else – Saskatchewan’s flatness. Now somewhere midway through my first beer the comedian talked about ways in which he could help increase tourism in Saskatchewan by coming up with new more catchy/trendy license plate slogans that adorn the province’s cars. The idea was Saskatchewan really was boring but hey, why not check it out.


See Saskatchewan from the top of a chair” and “Saskatchewan…where we measure distance in hours” were my two favourites. You would certainly need a hearty pancake breakfast if an hours long drive to were in store for you. Hearty breakfasts were nearly a requirement in our offices these past few weeks. The MAAM team has spent many hours studying developments in the bond market, which despite being bigger and way more important…tends to play second fiddle to the more entertaining stock market. Accordingly, in this edition of The Monthly the MAAM team explores what may lie in store for investors during the second half of 2019 if you think big.

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The Monthly Commentary June 2019


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