Monday morning briefing: Copper climbs

As vaccines are rolled out and a return to more normal conditions become a reality, the hard hit global travel industry received some positive news last week. A report noted that the European Union may soon begin allowing U.S. tourists who have been fully vaccinated to visit Europe this summer. The same situation is developing the U.K., which might also begin opening its borders to American travelers this summer. This, of course, is highly dependent on continued progress made to curb the spread of the pandemic.

Meanwhile, the U.S. Centers for Disease Control and Prevention provided guidance to cruise operators that they can soon begin sailing with customers again. This is all welcome news for an industry that was particularly hard hit by the pandemic.

Economic/industry news

The Fed holds its policy rate steady: Fed holds interest rates near zero, sees faster growth and higher inflation

U.S. GDP expands 6.4%, annualized, in the first quarter: U.S. recovery gains steam as spending fuels 6.4% GDP growth

A look inside the American Families Plan: Here’s what’s in Biden’s $1.8 trillion American Families Plan

Retail sales in Canada rise 4.8% in February: Retail sales climbed in February ahead of third wave: StatsCan

Does bad weather impact investment decisions?: Even the most ‘sophisticated’ investors have rainy days

Reasons for hope

Americans can remove masks in some outdoor gatherings: Vaccinated Americans can go unmasked outdoors, gather indoors

Helping Canadians book their vaccine appointments: Having trouble booking your shot? These volunteer ‘vaccine hunters’ want to help

U.K. workers are beginning to return to the office: Almost half of U.K. office workers are back at their desks

Adapting your business

Understanding client vulnerability: How dealers can protect vulnerable clients

Embracing a flexible schedule: Manulife CEO embraces flex schedules, unhurried return to office

Building a portfolio for the very long term: How to build a portfolio that outperforms for a century

The financial planning industry is more important than ever: An inflection point for advice and planning

Helping people with their financial well-being: How well-being drives a future financial planner

The underlying motivation of investment managers: The best managers aren’t in it just for the money

Chart of the week: Copper climbs

The price of copper surged higher last week, reaching its highest level since 2011 and approaching the US$10,000/tonne mark. Strong global demand, along with supply concerns, have been pushing the metal’s price higher. Copper is often used as a barometer for global economic conditions, given its vast range of uses, particularly for industrial goods. Copper is used in things like electrical equipment, building construction, vehicles, etc.

And copper prices might have room to climb. Governments continue to announce plans to become more energy-efficient and environmentally friendly. Given copper is used in renewable energy systems, while also helping to reduce CO2 emissions and the amount of energy required to produce electricity, its value should continue to grow. Could prices advance to all-time highs? Let us know what you think.
Used with permission of Bloomberg Finance L.P.

News and notes (U.S.)

Hedge funds trail other investment firms in incorporating ESG factors: Hedge funds off the pace on ESG integration, new bfinance investor poll finds

Blackstone reaches record quarterly profits in Q1: Blackstone posts highest profit yet, powered by growth-equity and SPAC deals 

Understanding the good and the bad of the new Ad Rule: The SECs ad rule: New strategies, new risks

JPMorgan to give its wealthy clients access to Bitcoin: JPMorgan preparing to offer Bitcoin Fund to wealthy clients: report

News and notes (Canada)

Serving business-owner clients: Canadian Western Bank sets sights on HNW entrepreneurs

A drop in labour force participation could stall the economic recovery: Fraser Institute: Canada’s aging population will reduce labour force participation, slow economic growth

No change in Canada’s AAA rating from S&P: S&P maintains AAA rating on Canada despite historic deficits

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