The Dow is on track for its 10th consecutive day of record all-time highs, the longest winning streak in 30 years.
And although the TSX is not following in lock step, stocks in Canada are also on a tear, led by the financials, and helped this morning by stellar results from CIBC.
The TSX has come from just about 13,000 a year ago to over 15,800 this morning, and although not at record highs, it’s darn close.
Hopes for stronger growth, higher inflation, and friendly fiscal policy from the new U.S. administration have fueled the recent rally.
Treasury Secretary Steven Mnuchin stated that the Donald Trump administration is committed to boosting U.S. economic growth to at least three per cent annually.
Although Canada is not at those lofty growth levels, any sustained pick up in U.S. economic activity will play well with equity markets on our side of the border.