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The High Income Fund returned 1.78% in August with stocks outperforming bonds. Market volatility was elevated with tensions between Russia and the Ukraine intensifying and foreign intervention to halt the Islamic terrorist threat in Iraq. The Ukraine crisis was additionally seen as hindering the global economic recovery as the European Union and other nations implemented a wide range of economic sanctions against Russia. Eventually, stock markets reversed earlier losses and finished higher as corporate earnings improved. With increased measures by the European Central Bank to stimulate growth and avoid deflation, European bond yields moved lower and this caused a similar move in Canada leading to higher bond prices. (more…)