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Last year was a volatile one for the financial markets as unpredictable Donald Trump entered the White House in January. Expecting the returning President Trump to bring hot markets with his election, as in his first term, investors soon learned to their chagrin that he was serious about his “Beautiful Tariffs”. Markets then tanked, recovered and then soared when he dropped the worst of his tariffs. That, and a renewed Artificial Intelligence (AI) mania, ignited a buying frenzy. Seemingly everything that could be traded went up, with even crypto, gold and silver joining the financial market glee.

Sources:

  1. Source: The Washington Post. (2026, January 11). Running deficits larger than during the Great Depression is reckless.
  2. Source: Ward, Jasper. (2025, December 17). Trump says next Fed chair will believe in lower interest rates ‘by a lot’.
  3. Source: Swanson, Ana. (2026, January 3). Why Haven’t Trump’s Tariffs Had a Bigger Impact?
  4. Source: Board of Governors of the Federal Reserve System. (2023, November 8). Changes in U.S. Family Finances from 2019 to 2022.
  5. Source: Choi, Matthew and Merica, Dan. (2026, January 12). After Venezuela, Trump eyes Iran.
  6. Source: Atkins, Eric et al. (2025, November 30). Manufacturing meltdown.
  7. Source: Craig Brown, Robert. (2015, March 4). National Policy.
  8. Source: Smith, Fergal. (2026, January 2). Canadian factory downturn lengthens as new orders hit a three-month low.
  9. Source: Senate Democrats. (2026, January 3). President Trump Discusses the Capture of Nicolás Maduro in Venezuela.
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Canso RadioBy Canso Investment Counsel Ltd.