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A curated collection of our thought leadership across various channels and formats, from articles and podcasts to webinars and videos.

Nicola Wealth Management Insights

Insights

June Market Commentary | A Record Quarter on a Narrow Base

May Market Commentary | AI leads, while inflation and rates push back

April Market Commentary | Earnings Strength Meets Geopolitical Risk

Key federal tax and economic measures, and what they may mean for your planning.

Federal Spring Economic Update 2026 – What It May Mean for You

Nicola Wealth's Q2 Outlook explored risk, diversification and opportunity amid uncertainty.

Nicola Wealth Q2 Outlook 2026: Discipline in an Uncertain World

What the war in Iran and rising oil prices mean for markets. 

March Market Commentary | War, Oil, and What It Means for Markets 

Stable on the Surface: Q1 2026 Market Commentary

February Market Commentary | AI and Geopolitics in Focus

Recent headlines have raised concerns about private credit. A closer look at the data tells a more measured story.

Separating Signal from Noise in Private Credit

January Market Commentary | Growth, Inflation and the Policy Balance

Strong equity returns in 2025 masked growing pressure in rates, valuations, and consumer affordability.

December Market Commentary | A Strong Year for Equities, Despite a Mixed Finish

Most asset classes finished November higher, yet changes in sector leadership and uncertainty around interest rates show that the path forward may be more mixed.

November Market Commentary | Markets Hold Steady

Global markets reached new highs in October, supported by easing policy and steadier data, even as elevated valuations and persistent risks remained in focus.

October Market Commentary | New Highs, Old Lessons

Equities rallied through September, capping a broadly positive third quarter, but gold’s surge and elevated valuations point to lingering caution as investors weigh resilient growth against policy and political uncertainty. 

September Market Commentary | Leadership Narrows as Policy Unfolds

Earnings beat forecasts again, but can markets keep climbing amid Fed pressure, soaring debt, and rising tariff risks?

August Market Commentary | Signals to Watch: Valuations, Fiscal Dominance Risks, and Gold’s Warning Glow

July Market Commentary | Earnings Shine, Headwinds Persist

Despite a backdrop of geopolitical tension, shifting fiscal dynamics, and rising debt costs, markets remain resilient. But how sustainable is the rally?

June Market Commentary | Growth on Borrowed Time?

Canadians look up basic financial terms as advisors work to fill gaps left by schools and misinformation

This One Acronym Confuses Canadians More Than Their Mortgage | Wealth Professional

Markets rebounded sharply in May, but underlying sentiment remains cautious amid rising bond yields, policy uncertainty, and shifting global capital flows. Investors are watching closely as U.S. fiscal risks, currency dynamics, and conflicting economic signals complicate the path forward.

May Market Commentary | Markets Rise, But Questions Multiply

John Nicola breaks down Section 899 in the latest U.S. budget and examines what it could mean for Canadians and other foreign investors with U.S. holdings

A Spanner in the Works – Section 899

Markets are roaring back, but they also did in 1930. This article explores the cautionary signs behind the recent market surge and how high-net-worth investors can preserve and grow capital through tactical diversification and reliable income; principles Nicola Wealth has long supported.

Dead Cat Bounce or Real Recovery? Lessons from 1930

Markets swung sharply in April as new tariffs rattled investors and global dynamics shifted. The S&P 500 dropped nearly 19% before rebounding, but U.S. stocks still lagged global peers by the widest margin in decades. Mixed economic signals and rising recession odds have fueled uncertainty, while renewed tensions with China highlight the need for global economic rebalancing.

April Market Commentary | Rebound or Reset?

Outlook 2025 features insights from Nicola Wealth’s professional asset management and planning teams to help you make informed decisions with clarity and confidence.

Defense by Design: Nicola Wealth Outlook 2025 

Financial markets were volatile in March. President Trump’s tariff announcements triggered sharp swings in equity prices, leaving investors cautious and uncertain about the path forward. Despite rising tariff troubles, international markets were resilient and outperformed their U.S. peers. Investors now stand at a critical junction, and they must assess whether the current volatility denotes a temporary correction or suggests deeper economic challenges ahead.

March Market Commentary | Tariff Turbulence: Navigating Market Uncertainty

John Nicola examines the proposed Mar-a-Lago Accord and what it could mean for the U.S. dollar, global debt markets, and Canadian investors.

Mar-a-Lago Accord: A Bridge Too Far

John Nicola examines the market fallout from U.S. tariff policy, the sharp rise in bond yields, and what ultimately triggered a policy pause by the Trump administration.

Tariffs, Markets and the Trump Cave-In

A timely discussion on shifting U.S. policy, global uncertainty, and what it could mean for Canadians.

Tariffs, Trade, and What’s Ahead for Canada: A Conversation with John Nicola and David Frum

John Nicola, CEO and CIO of Nicola Wealth, examines the market impact of recent U.S. tariff changes and highlights the importance of risk management in today’s evolving economic landscape.

Liberation Day: The Trade Battles Begin

Chief Economist Rob Edel discusses the risks of rising stagflation and the unravelling of U.S. exceptionalism, highlighting the potential economic challenges ahead and what they mean for global markets. 

February Market Commentary: Unwinding U.S. Exceptionalism & Stagflation Risk

John Nicola aims to objectively analyze what Trump is trying to accomplish with tariffs, the economic implications of his policies, and how they may impact markets. 

Navigating the Trump Era: Economic Realities and Investment Strategies

Despite December's downturn, January delivered strong global returns and bullish sentiment. Chief Economist Rob Edel analyzes rising bond yields, Trump policy risks, and why U.S. market leadership persists in 2025.

January Market Commentary: Bulls, Bonds & Political Risks

Despite December’s downturn, Chief Economist Rob Edel highlights why 2025's outlook remains cautiously optimistic.

Market Commentary: Power Shifts & Pivot Points

Freeland’s resignation is a reminder of how political events can quickly influence market dynamics.

Chrystia Freeland’s Resignation and the Looming Tariff Threat

Chief Economist Rob Edel examines U.S. stock dominance versus global performance as investors continue to weigh opportunities against elevated valuations.

Market Commentary: November 2024

Chief Economist, Rob Edel, explores how rising bond yields, market volatility, and investor sentiment are shaping U.S. equities, credit markets, and inflation expectations post-election in his October Market Commentary.

Market Commentary: October 2024

Looking at how Trump’s return to office may affect market dynamics and investment strategies. 

Trump(eting) a Victory

Further weakness in jobs data could have wide-ranging implications for Canada’s economy, markets, and currency.

Canada’s Unemployment Rate Forecast to Climb in October Reversal | Morningstar

Ben Jang, Portfolio Manager at Nicola Wealth, joins host Jasmine Marichic to discuss shifting dynamics in equities, interest rate cuts, and geopolitical tensions.

Investing Matters: Q3 2024 Market Commentary

Chief Economist Rob Edel offers insights into the strong performance of stocks and bonds in September, key factors influencing market sentiment, and the upcoming U.S. presidential election.

Market Commentary: September 2024

Ed Mills Washington Policy Analyst, Managing Director at Raymond James, joins host Ben Jang, Portfolio Manager at Nicola Wealth, to discuss the latest twists in the U.S. presidential election, key policy issues, and their market impacts.

Investing Matters: U.S. Election Dynamics and Market Effects with Ed Mills

Chief Economist Rob Edel offers insights into recent market trends, key economic indicators, investor sentiment, stock performance, market rotation, and the overall economic outlook.

Market Commentary: August 2024

Chief Economist Rob Edel provides insights into recent market trends, key economic indicators, and the potential impacts of a presidential shift.

Market Commentary: July 2024

Despite speculations of higher vacancies and mortgage defaults, strategic investments and value-add opportunities highlight multi-family residential real estate's potential for stable returns.

Is U.S. Multi-Family Residential the Next Domino to Fall in Investment-Grade Real Estate?

Chief Economist Rob Edel highlights strong market gains driven by top tech stocks, recent volatility, and concerns about sustainability amid economic and political factors.

Market Commentary: June 2024

Ben Jang, Portfolio Manager at Nicola Wealth, joins host Jasmine Marichic to discuss global economic trends, including growth, inflation, equity markets, and interest rates.

Investing Matters: Q2 2024 Market Commentary

From tech sector dominance and economic indicators to political influences and international economic considerations. Gain insights into market performance, investor sentiment, and the upcoming U.S. presidential election's potential impact on global markets.

Market Commentary: May 2024

Public Assets Portfolio Manager Ben Jang comments on the Bank of Canada’s decision to lower its key interest rate to 4.75%, the first cut in four years.

Bank of Canada building on Canada's Parliament Hill

Canada’s Recent Rate Cut and The Path Forward

Global tensions and inflation speculation jolt markets, prompting a reevaluation of economic and fiscal strategies.

Market Commentary: April 2024 

Ben Jang, Portfolio Manager at Nicola Wealth, joins host Jasmine Marichic to discuss market themes, inflation, and investment strategies, offering valuable insights.

Investing Matters: Q1 2024 Market Commentary

As the stock market faces turbulence to begin the month of April, it's worth reflecting on the recent bullish trend of the first quarter. 

Market Commentary: March 2024

Watch Nicola Wealth's Strategic Outlook 2024 Presentation.

EVENT REPLAY: Strategic Outlook 2024

While the market rally presents opportunities, investors should remain cautious, considering the challenges and uncertainties ahead.

Market Commentary: February 2024

Market Commentary: January 2024

Ben Jang, Portfolio Manager at Nicola Wealth, joins host Jasmine Marichic to offer an update on the performance of the global markets in the fourth quarter of 2023 and expectations for 2024.

Investing Matters: Q4 2023 Market Commentary

Market Commentary: December 2023

Market Commentary: November 2023

Market Commentary: October 2023

Rising interest rates are impacting the value of companies with increasing dividends, presenting opportunities for investors and emphasizing the importance of dividends for total returns in a changing market.

Cash Flow Is Still King

Ben Jang, Portfolio Manager at Nicola Wealth, joins host Jasmine Marichic to offer an update on the performance of the global markets in the third quarter of the year.

Investing Matters: Q3 2023 Market Commentary

Market Commentary: September 2023

Market Commentary: August 2023

Dan Wurtele and Ryan Dash delve into some of the most pressing issues impacting the Canadian real estate market.

Investing Matters: Real Estate Market Trends, Investment Strategies, and First-Time Buyer Tips

Market Commentary: July 2023

Mark Hannah, Managing Director of Real Estate, pens a four-part series on real estate and how investors can overcome challenges in a rising rate environment.

Surviving a Rising Tide: How Real Estate Can Overcome Challenges in a Rising Rate Environment

Ben Jang, Portfolio Manager at Nicola Wealth, joins host Jasmine Marichic to offer an update on the performance of the global markets in the second quarter of the year.

Investing Matters: Q2 2023 Market Commentary

Mortgage Rates: Fixed or Variable?

Market Commentary: June 2023

May 2023 Canadian and USA market commentary economy by Rob Edel

Market Commentary: May 2023

Bank of Canada Interest rates by Nicola Wealth Management

Bank of Canada's Rate Hike Signals Prolonged Era of Higher Interest Rates

Market Commentary: April 2023

Investing Matters: Q1 2023 Market Commentary

4 Things to Know: Q1 2023

Market Commentary: March 2023

Market Commentary: February 2023

Watch Nicola Wealth's Strategic Outlook 2023 Presentation.

EVENT REPLAY: Toronto Strategic Outlook 2023

EVENT REPLAY: Vancouver Strategic Outlook 2023

Close up pen on paperwork and woman hand calculate finance.

Nicola Wealth Investment Returns: January 2023

Market Commentary: January 2023

Investing Matters: Q4 2022 Market Commentary

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5 Things to Know: Q4 2022

Market Commentary: December 2022

Market Commentary – November 2022

5 Things to Know About the Recent Interest Rate Hike

Market Commentary – October 2022

Nicola Wealth Investment Returns – September 2022

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Market Commentary – September 2022

Market Commentary – August 2022

Market Commentary: July 2022

Investing Matters: Q2 2022 Market Commentary

Nicola Wealth Investment Returns – June 2022

Market Commentary: June 2022

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Are We Bear (There) Yet?

Market Commentary: May 2022

Today’s Tech Correction Is Not Likely To Be Another Dot-Com Bomb

Why Energy May Still Have Room To Run

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Investing Matters: Q1 2022 Market Commentary - A New Market Environment

Nicola Wealth presents returns for its funds in April 2022.

Nicola Wealth Investment Returns – April 2022

Rob Edel, Chief Investment Officer provides a commentary on the markets in April 2022.

Market Commentary: April 2022

Canadians have been increasingly counting on residential real estate to grow their wealth. Increased mortgage rates have the potential to dampen this strategy but the long-term implications are still far from being clear. In this article, I lay out the argument for renting vs buying, and why investors may consider the latter to grow their wealth.

Higher Mortgage Costs Are Here – Is a Seed Change Coming?

Lead Impact: Reducing Energy Poverty & Enhancing Economic Equality with John Belizaire

Navigating today’s investment landscape begins with understanding the environment we invest in. Access market commentary directly from our in-house Portfolio Managers to stay informed on the key developments shaping the economy.

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