CG Wealth Management May Newsletter
Personal Note From Chris Getzlaf
It has been a little longer than anticipated since the last monthly edition of the newsletter. That delay has been warranted because the office and team have undergone some recent, exciting changes.
The first of many changes to announce is that after a successful and monumental 40-year career within the financial industry, Judi Thiessen, CG Wealth’s longest-serving employee, will be officially retiring from the industry at the end of May. Whether in sports, business, or family, we all know of those one or two persons who are pivotal in helping make the entire thing run, and Judi was one of them for CG Wealth. When Glen and I partnered up in 2018, Judi was on the ground floor. Through her incredible dedication, determination, and client first-focus, she has helped build and establish the firm for what it is today and helped set a successful trajectory for the team. I cannot thank her enough for all her insight, wisdom, and friendship over the years. I am excited for the next chapter she is entering and wish her all the best in her endeavors.
With Judi’s departure, we are excited to announce a few new additions to the team (their full bios can be found at the end of this newsletter). Introducing first, Braydon Tomac. Braydon will eventually be a third advisor on the team and brings valuable institutional knowledge as he has been in the financial industry for over five years and an associate advisor for two of those. Next, Panagiota (Yota) Ntoli Singk, has also recently joined the firm. Panagiota has a background in the financial services sector and brings a plethora of administrative experience that will be greatly utilized well into the future. Last but certainly not least to recently join the team is Erica Burton. Erica too has a well-seasoned administrative background which will support all facets of the company.
Aaron (whom many of you have already met) continues to expand his talents and is still in pursuit of becoming a full-fledge advisor for the firm.
I am very excited for where we currently are as a team, longevity has been established, and everyone brings a unique skill-set that greatly compliments one another.
To all our valued clients, I wish you all the best wherever you’re reading this and hope you have been enjoying spring so far!
-Chris Getzlaf, Partner at CG Wealth Management
Market Updates
The top headlines in the market in April were:
Trump’s “Liberation Day” Tariffs Sparks Global Market Turmoil: On April 2, 2025, President Donald Trump announced sweeping tariffs on what was coined “Liberation Day”. The tariffs included a 10% baseline tariff on all imports (with exceptions), 54% (later raised to 245%) on China, 20% on the EU, and higher rates on countries like Vietnam, Thailand, Japan, Cambodia, and Taiwan. This triggered a sharp sell-off in global stock markets in early April.
Market Rebound After Tariff Pause Announcement: On April 9, a 90-day pause on higher reciprocal tariffs for countries that signaled a willingness to negotiate their current trade practices with the U.S. and on those not yet imposing retaliatory measures. This led to a partial recovery amongst most major financial markets.
Volatility in the Bond Market: U.S. Treasury yields surged after the tariff announcements, with the 10-year yield hitting 4.5% and the 30-year yield jumping over 50 basis points to 4.92% by April 9.
The top headlines in the market in May were:
U.S.-China Trade Truce Sparks Market Rally: On May 12, 2025, the U.S. and China announced a 90-day truce in their trade war, leading to a significant market rebound. Markets were buoyed by optimism for further negotiations, though tensions persisted as China insisted on full U.S. tariff removal before deeper talks.
Corporate Earnings Highlight Resilience: First-quarter S&P 500 earnings showed 73% of companies beating estimates, though slightly below the five-year average.
As this newsletter was being drafted (May 27, 2025), markets have rebounded substantially since the sell off at the beginning of April. Since the April low, the S&P 500 is up over 22%, and is only down around 3% from all time highs back in February. Turning to Canadian markets, the S&P/TSX is up over 13% since the April lows and is currently trading at an all time high.
Macroeconomic Updates
The top headlines in the macroeconomic sphere in April were:
Liberals Win Fourth Consecutive Mandate: The Liberal Party, led by Prime Minister Mark Carney, won their fourth mandate as they formed a minority government on April 28.
Inflation Growth Cooled: According to Statistics Canada, the inflation rate slowed to 2.3% year-over-year, which was largely influenced by lower gasoline and travel tour prices.
Central Bank Holds Interest Rate: Despite the slowed growth in inflation in March, the Bank of Canada held the interest rate at 2.75% on April 16 and did not opt for what would have been an eighth decrease in the interest rate.
The top headlines in the macroeconomic sphere in May were:
Federal Reserve Holds Interest Rate AGAIN: Down in the States, their Central Bank held their key interest rate at 4.50%. This is the third hold in a row for the Central Bank since cutting it’s interest rate last in December 2024.
Inflation Rate Grows Higher than Expected: According to Statistics Canada, the annual inflation rate grew higher than expected at 2.5% year-over-year.
Newest CG Wealth Team Members
With 3 new additions to the team, we have a very capable team to meet your every financial need. Click the link below to get to further know Chris, Aaron, Braydon, Panagiota and Erica!
Please don't hesitate to contact us if you have any questions. The team is looking forward to helping you plan to prosper.
