The Financial Post reports in its Tuesday, Sept. 18, edition that this year is shaping to be a disappointment for Canadian investors as they open their September statements. The Post's guest columnist Martin Pelletier writes that investors should not be surprised, given that the S&P TSX is up a paltry 0.72 per cent this year-to-date. Meanwhile, the Canadian dollar is up an astounding 10.25 per cent this year. Investors cannot be blamed for this disconnect in expectations versus reality given the recent messaging coming out of both the Bank of Canada and the federal government. The BOC has been the only central bank brave enough among its G7 peers to raise interest rates, not only once but twice. International money managers are scratching their heads at Governor Stephen Poloz's sudden and unexpected hawkishness in light of what is happening south of our border. Gluskin, Sheff + Assoc. economist David Rosenberg has indicated that "making any rash changes, as seems likely, could very well tip the economy into a recession." Mr. Pelletier believes the Canadian equity market is reflecting this as a real risk.