June 2025 – Market Commentary

The month of May was marked by heightened geopolitical tensions and economies under pressure.

Canada appears destined for a recession this year, according to a growing number of experts.

Americans are losing confidence in their economy.

Europe is preparing for an intense showdown with the Trump administration and its persistent push for tariffs.

In the United Kingdom, Keir Starmer’s government has initiated a significant rapprochement with the European Union, having realized that economic growth would not come from trade with the United States.

Meanwhile, in China, there are signs of an economic recovery, but it remains fragile due to numerous weaknesses—most notably, the ongoing real estate crisis.

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