Passive Income Update – Oct 2019

Welcome to our monthly passive income update for October 2019. This is part of the scorecard series where we track our dividends and other sources of passive income. We also include changes and updates related to our investments during the month – showing the overall progress.

Passive Income  Update

Passive income for the month of Oct 2019 was CAD$723.89, which comprised of US$88.32 and CAD$607.31 (exchange rate is US$1 = CAD$1.32).

The change for the month is -19.6% QoQ and -4.5% YoY. This brings our passive income to $7,594.17 YTD and achieves 94.9% of our annual goal of $8K in passive income.

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Outlook for November 2019

Earnings season is in full swing and it makes for interesting times. Well run companies are posting near-record top line growth, while the mediocre ones continue the “miss-by-a-penny or beat-by-a-penny” earnings game.

Interesting moves on the central banks front as well in the past few days. The US Fed cut interest rates again and hinted that this will be the end of the rate cut cycle — but the bond market is calling their bluff sending yields further down post announcement. I will be keeping my eye on the bond market for further developments there.

The Bank of Canada held steady hinting at rate cuts coming early next year if not earlier. I just might hold onto my Canadian bond funds longer since the Canadian rates are going nowhere but down from here.

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