Last week, Argentina’s congress approved a restructuring deal for $45 billion in debt owed to the International Monetary Fund (IMF). Following two years of negotiations, President Alberto Fernández urged his parliament to approve the deal prior to a payment of $2.8 billion due on March 22. The agreement ultimately removes the threat of an imminent default on $19 billion of repayments due this year. The terms of the agreement require Argentina to gradually reduce the budget deficit over the next three years while curbing central bank money printing in exchange for a four-and-a-half-year grace period on IMF payments.

With the news of Russia’s invasion of the Ukraine, the economic impact of the conflict has already been felt.

The political factors involved in Russia’s military action against its neighbouring nation are complex and date back to the Second World War. We recognize that this is not a simple situation that can be explained away from a financial perspective either. But with so much uncertainty, the focus that we have is the impact that this news will have on our clients. We do hope that all those involved and affected by these circumstances, whether Ukrainian, Russian, or otherwise will come to a swift and peaceful resolution.

North American markets saw one of their worst weeks post-pandemic from Jan. 17th to 21st and the bleeding has continued into this week with markets opening deep in the red on Monday. Investor’s sentiment is currently cautious/bearish due to the impending rate hikes from Central banks, Q4 earnings season, inflation numbers, and heightened tensions in Ukraine.

Due to the new COVID-19 variant, the markets have been put in a state of flux. Investing in blue-chips with dividends may seem obvious but it is reliable.

Argentina’s midterms legislative elections implications on The Blue Chip Swap spread.

How the recent floods in Abbotsford and Chilliwack are causing significant supply chain issues.