Daily News

Source: BNN Bloomberg September 06, 2023

Billion-dollar corporate bond deals hit Treasuries

Treasuries sank as a handful of companies flooded the market with billions of dollars in debt sales before this month’s key economic data and the Federal Reserve’s rate decision. Stocks fell and the dollar hit the highest since March as a rally in oil added t...

Source: BNN Bloomberg September 06, 2023

TSX recap: Index finishes 0.64% lower as U.S. markets also down

Canada's main stock index moved lower as investors await an interest rate decision from the Bank of Canada Wednesday, while U.S. stock markets also posted losses.  The S&P/TSX Composite Index was down 131.60 points, or 0.64 per cent, at 20,413.76. In Ne...

Market Call Source: BNN Bloomberg September 06, 2023

Keith Richards' Top Picks: September 5, 2023

Keith Richards, president and chief portfolio manager, ValueTrend Wealth Management FOCUS: Technical analysis  MARKET OUTLOOK: The bottom line is economics 101: supply and demand. On the supply side, years of modern monetary theory – money print...

Source: Bankofcanada September 06, 2023

Bank of Canada maintains policy rate, continues quantitative tightening

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. Inflatio...

Source: Financialpost September 06, 2023

Even a deep recession won't restore housing affordability in Toronto: Desjardins

Worst-case scenario where values plunge 30% would bring price-to-income ratio to still unaffordable 2015 levels Even a sharp recession is unlikely to restore affordability to Toronto’s housing market, according to a new study from Desjardins t...

Source: Financialpost September 06, 2023

David Rosenberg: More evidence the Bank of Canada should stop hiking rates

Disturbingly broad-based weakness in economy begs the question: Tiff, what more do you need to see? The Canadian economy unexpectedly dipped into contraction in the second quarter, at a 0.2 per cent annual rate instead of expanding at a 1.2 per...

Source: Financialpost September 06, 2023

Posthaste: Why Bank of Canada rate hikes might really be over this time

GDP shocker shows economy cooling faster than anyone expected It looks like British Columbia Premier David Eby might get his wish. In a letter last week, the premier urged Bank of Canada governor Tiff Macklem to consider the “human...

Source: Financialpost September 06, 2023

'Things are dismal': Canadians' view of economy deteriorates on eve of Bank of Canada rate decision, poll finds

Only 33% of people believe economic outlook will improve over next 60 days Canadians’ view of the state of the economy continues to deteriorate, a new poll suggests, just as the Bank of Canada prepares to announce its latest interest rate decis...

Financial Times Source: Financialpost September 06, 2023

Why isn't Canada an economic giant?

Financial Times: Nation has vast potential, yet underperforms on the global stage Canada rarely makes the global news. When it does, it is often in reference to the exploits of Canadian entertainers — Justin Bieber, Céline Dion and Drake. For a...

Source: Financialpost September 05, 2023

It could be time for investors to plant some seeds in these underappreciated sectors

Martin Pelletier: These 3 sectors are boasting annual yields as high as 9-15% Like many of those who grew up in the Prairies, I come from a family with strong farming roots, so I know that having patience is ingrained in a farmer’s makeup, whic...