Global markets have recorded mixed results thus far through the first half of June with U.S. and Asian equity bourses posting gains while Canadian and European stock markets have slipped modestly. Meanwhile bonds have rallied and major currencies have universally gained against the US dollar. Overall, global economic fundamentals continue to evolve constructively with global growth firming in 2017 while also broadening out into all major regions. This has laid the groundwork for improving consumer and business spending, employment trends, and profit growth over the coming 12 to 18 months. Given the lack of inflationary pressures and tight monetary policies, we see recession risks over the coming year as low which should help extend the current market cycle through this year and likely much of next.