In the last month, the rumored Russian invasion of Ukraine did in fact take place. Our thoughts go out to everyone who has been affected by this and especially everyone living in Ukraine. As of this update on March 17th, Russia is still at war in Ukraine. In recent weeks, many NATO countries have taken significant action with various sanctions which has significantly hindered the Russian economy. It is unsure of when this will end, and ultimately what the result will be, but Russia is feeling the pressure. There have been talks between Russian and Ukraine on coming to a peace agreement, but it is too early to tell if any progress has been made.

On the popular topic of interest rates, we have seen both the US and Canadian central banks raise rates for the first time since they dropped rates at the start of the pandemic. This is most likely the first of multiple rate hikes this year, and we could even see a jump of 0.5% at the next central bank meeting. Immediately we saw an impact in mortgage and lending rates, and as we progress throughout the year, we will see how much of an impact this will have on company valuations and the housing market.

Brad Wilson

We saw the markets test some lows for 2022 towards the end of January. While we saw a slight rebound to close out the month, many of the market indexes closed out down in January between 5-9%. We saw a further bounce back in the first 10 days of February, but have since seen a lot more volatility and even pressures of retesting the January lows.

Interest rates and inflation continue to be a hot issue. While we saw the central banks hold interest rates at the end of January, they signaled that multiple rate hikes are not too far away, and many are speculating that the first hike could come as soon as March 2nd.

Lots of news and concern surrounding the potential Russian invasion of Ukraine and fears of war has had an impact on the markets. If the concerns surrounding this conflict continues or the situation escalates, we could see the markets break through and test new lows. This will likely continue to be a sensitive issue triggering short term volatility.

Brad Wilson

A New Partner – A New Look

We are excited to announce that in November we entered into a new partnership with Quintessence Wealth!

Q Wealth is a firm designed exclusively for well established and client-centric advisors like us.

We can offer:

• Exclusive access to a wider range of investments

• Lower Management Fees

• Leading-Edge Client Experience

Market Watch

While we welcomed the New Year, we have also seen the return of volatility in the markets. Further concerns about inflation have spooked the markets downward. The markets are counting on the central banks to begin raising interest rates as soon as the week of January 24th. The concern about interest rates is hurting valuations of many beloved growth companies (especially in the technology sector).In addition to a maturity of option contracts, more selling takes place to cover these positions, therefore, causing the overall year-to-date to be in the negative territory. We often see an oversold scenario in these situations and typically an upward bounce back follows. This will depend upon the upcoming earnings reported from many of these growth companies.

Laugh & Be Happy

I’m normally not one to brag about my financial skills but my credit card company calls me almost every day to inform me my balance is outstanding!

Monthly Recipe:

Butternut Squash Soup

Ingredients: 
• 1 tbsp of olive oil
• 1 medium onion, diced
• 3 cloves garlic, minced
• 3/4 tsp grated fresh ginger
• 1/4 tsp white pepper
• 1 medium butternut squash, peeled and cut into 1inch cubes
• 4 cups vegetable or chicken stock
• 3/4 cup coconut milk or half and halfInstructions: 
1. Heat a large pot over medium heat. Add olive oil
2. Add the onion, garlic, ginger, salt & pepper, and thyme, and sauté until the onion is soft and transparent
3. Add the cubed butternut squash and toss in the onion mixture
4. Add the stock and stir to combine
5. Add the lid to the pot and bring to a boil over medium high heat
6. Once the soup reaches boil. Turn the heat down to medium
7. Puree with a hand-held immersion blender
8. Remove the soup from the heat and add coconut milk
9. Serve

Coldest Night of the Year

KLT Wealth Management is proud once again to support the Coldest Night of the Year Fundraiser. Together, we’re collecting donations that fund critical services at a local charity partner who serves and supports vulnerable families and individuals in our CNOY community.Each step we take brings someone closer to safety, health and home, as together, we raise funds for organizations whose commitment and work transforms peoples’ lives. Click here to help Support the Cause.