Nobody's bracket survives the World Cup. And nobody's market thesis survived the first half of 2026 either, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. All seven Magnificent Seven stocks are trailing the S&P 500 at the halfway mark, while emerging markets and Canada have been the tournament's surprise winners. He explains what changed with the tariff shock of April 2025, why favourites are still good teams but not a plan on their own and why owning the whole field is the only strategy that keeps you in every round.

Aucun des pronostics de la Coupe du Monde ne s’est réalisé. Et aucune thèse de marché n’a survécu à la première moitié de 2026 non plus, fait remarquer Pierre-Benoît Gauthier, vice-président, Stratégie de placement à IG Gestion de patrimoine.  À mi-parcours, les Sept magnifiques sont à la traîne par rapport au S&P 500 tandis que les marchés émergents et le Canada ont été les gagnants-surprises du tournoi. Il explique ce qui a changé avec le choc des droits de douane d’avril 2025, pourquoi le fait de miser sur les équipes favorites demeure pertinent sans être une stratégie en soi, et pourquoi la maîtrise de tout le terrain est la seule stratégie qui permet de passer au tour suivant.

The headlines in the first half of 2026 were loud: a war in Iran, oil above $100 a barrel, inflation concerns and a weakening consumer. None of it was enough to derail markets, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. He breaks down the earnings and economic backdrop that drove returns across U.S., Canadian and international equities, explains why Canada and the U.S. are now heading in opposite directions on interest rates, and makes the case that any volatility in the second half of 2026 may turn out to be an opportunity.

While investors were focused elsewhere, the Canadian dollar quietly fell almost 5% against the U.S. dollar over the past two months. Philip Petursson, Chief Investment Strategist at IG Wealth Management, explains the two forces driving that weakness: falling oil prices and a widening gap between Canadian and U.S. interest rates. With the Bank of Canada likely to shift its focus from inflation to a slowing economy, and the U.S. Federal Reserve expected to raise rates further, his view is that the pressure on the loonie may not be over.

Markets don't climb because everything is fine. They climb because everyone is convinced it isn't, says Philip Petursson, Chief Investment Strategist at IG Wealth Management. He explains why the wall of worry that carried markets through the first half of 2026 has largely come down, and why that shift raises a simple question: what will carry the markets from here? He breaks down what history says about mid-term elections, why earnings remain the real floor under this market, and why the set-up for the second half of the year is more constructive than many investors might expect.

Two years ago, incoming U.S. Federal Reserve chair Kevin Warsh warned that central banks were getting too comfortable with higher inflation and called it very dangerous. Philip Petursson, Chief Investment Strategist at IG Wealth Management, explains why that warning looks prescient today. With most central banks worldwide running above their inflation targets, and bond yields climbing, the boom in labour markets and asset prices is coming with a cost. The question is how central banks respond, and whether markets are ready for that answer.

Is inflation bad for stocks? Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, went back through 76 years of market data to test that assumption, and the answer is more nuanced than most investors might expect. Stocks have been at least partial inflation hedges across most of the range we've actually lived through. The real risk isn't the inflation level itself; it's the policy response and whether that response tips the economy into a downturn.

The stock market is doing something unusual: rising steadily while consumers feel worse than they have at any point in recorded history, and most of the usual warning signs are flashing. Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, breaks down the artificial intelligence concentration story driving U.S. markets and why 10 companies now account for roughly 40% of the entire index. He explains why this rally deserves respect but not blind faith, and why a truly diversified portfolio today means owning more than one version of the same trade.

The bond market has been sending a message, and equity investors are starting to have to listen. Philip Petursson, Chief Investment Strategist at IG Wealth Management, breaks down what rising long-term government bond yields mean for a stock market that has climbed sharply in value this year. With inflation still elevated, the U.S. Federal Reserve is in a difficult position. Additionally, AI-driven growth remains powerful, but higher rates are forcing investors to reassess risk, future cash flows and the true cost of capital.

Most investors haven't been paying attention to Korea. Ashish Utarid, Assistant Vice-President, Investment Strategy at IG Wealth Management, makes the case that they should be. He explains how sweeping corporate governance reforms have unlocked remarkable stock market gains and why Korean export data has become one of the most reliable early signals for where U.S. manufacturing is headed. For investors focused on artificial intelligence, global manufacturing and shareholder reform, Korea sits at the intersection of all three.