A lot has happened since last month’s update. The war with Iran is reshaping oil markets. Stock markets are back at record highs. And artificial intelligence is changing everything from your portfolio to your productivity. Here’s what you need to know: Oil shock easing — but not over yet: The Strait of Hormuz remains significantly blocked, keeping oil prices well into triple digits. On the plus side, the ceasefire is broadly holding, and markets expect the blockade to lift within a month — with full normal shipping passage by end of June. What does that mean for inflation and growth? The answer may surprise you. Stock markets hit all-time highs: North American stocks have fully recovered from their war-driven selloff and are now at record levels. Is the market ignoring the risks — or does it know something? There’s a reason earnings estimates have actually been revised upward during this crisis. AI: the productivity story is getting clearer: Concerns about job losses and software sector disruption are real. But there’s growing evidence that AI is already delivering productivity gains in the U.S. economy. Find out why there’s reason for optimism. The rate-cutting era is over: Both the Fed and the Bank of Canada held rates this month. A shift from rate-cutting to a new regime may be underway. Has Canada’s moment arrived? In a world where resource security is priority one, Canada may hold more cards than you think. With a new sovereign wealth fund in the spring fiscal update, there’s a compelling case that Canada is better positioned than it’s been in years. Private credit: watch but don’t panic: Concerns in the private credit market are growing, particularly in software-related lending. But is it a contained problem — or something bigger? Bottom line: The economy is holding up better than expected, the oil shock looks temporary, and earnings are strong. Markets have bounced back sharply — which means valuations aren’t as attractive as they were a month ago. Investors should stay engaged: the next few months will be telling. All this and more in this month's webcast.