Flat equity returns and a deflated loonie: Investors have a good gauge of the state of our economy

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As an investor, reading the news these days can prove to be quite a challenge when it comes to separating between what’s relevant and what’s not. This is especially difficult in Canada when you have politicians quite publicly taking ownership over certain segments of the economy, pundits flag-waving components of economic reports, and academia heavily influencing government policy like never before.

However, what many forget is that the market is fairly efficient when sorting through what is rhetoric and what it believes will ultimately have an impact. In this regard, the fact of the matter is that the S&P TSX  Composite Index has been one of the worst performers globally with flat returns over the past three years, followed by a Canadian dollar below 80 cents even as oil is above US$70 per barrel.

To help determine how we got here, let’s sort through some of the key influences on the Canadian economy and the market. 

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