Daily News

Source: Financialpost December 17, 2022

Group that advises the Bank of Canada on debt markets is livid over Freeland's decision to scrap inflation-adjusted bonds

Minutes of Canadian Fixed-Income Forum show members venting their frustration with a decision few saw coming A group of fixed-income investors overseen by the Bank of Canada is livid over Finance Minister Chrystia Freeland’s decision to cancel...

Source: BNN Bloomberg December 16, 2022

U.S. stocks drop for a second day; oil snaps rally

Stocks dropped and the dollar rallied after a wave of rate hikes from central banks this week, with the Federal Reserve and the European Central Bank warning of more pain to come. Sign up to get breaking news email alerts sent directly to your inbox...

Source: BNN Bloomberg December 16, 2022

TSX recap: Index closes 1.46% lower amid broad-based losses

Canada's main stock index fell by almost 1.5 per cent Thursday with broad-based declines, while U.S. stock markets fell even further a day after the U.S. Federal Reserve raised its key interest rate and said it expects rates still needed to go higher. S...

Market Call Source: BNN Bloomberg December 16, 2022

Brian Madden's Top Picks: December 15, 2022

Brian Madden, chief Investment Officer, First Avenue Investment Counsel FOCUS: North American equities  MARKET OUTLOOK: Despite the widely touted “Santa Claus rally,” or propensity for December to serve up gains for stocks, which is overdue to begi...

Source: Financialpost December 16, 2022

Alberta's industrial carbon tax to triple by 2030 to match Ottawa's minimum standards

'This is good news for the province,' says Alberta environment minister Alberta’s tax on industrial carbon dioxide emissions will triple by 2030 in order to keep pace with the federal carbon pricing schedule, according to an order in council is...

Source: Financialpost December 16, 2022

OSFI leaves mortgage stress test unchanged as safety buffer against growing risk

Rising interest rates have pushed qualifying rate above 8% for some borrowers Canada’s federal banking regulator is leaving the stress test for uninsured mortgages unchanged, citing economic uncertainty and increasing vulnerabilities in the fin...

Source: Financialpost December 16, 2022

Canadians' debt payments higher now than in the '90s when interest rates were 13%

'You can’t paint any lipstick on what is happening in terms of consumer credit quality,' says David Rosenberg Consumer debt payments in Canada are significantly higher today than when interest rates were in the low teens in 1990, a sign of the...

Source: Financialpost December 16, 2022

Wall Street slumps as U.S. Federal Reserve heightens recession fears

Rates now seeing topping 5% in new year NEW YORK — U.S. stock indexes closed sharply lower on Thursday, with each of the major averages suffering their biggest daily percentage drop in weeks, as fears intensified that the Federal Reserve’s batt...

Source: Financialpost December 16, 2022

Dreaming of a new car for Christmas? Here's why you should keep dreaming

Average wait time to get a new car delivered can be upwards of six months Things were supposed to be different in 2023 for car manufacturers, dealers, prospective car buyers and lovers of auto shows, those annual pageants of polished steel and...

Source: BNN Bloomberg December 15, 2022

U.S. stocks snap two-day rally after Powell's remarks

U.S. stocks snapped a two-day rally after Federal Reserve Chair Jerome Powell reiterated his hawkish stance but signaled the central bank is getting “close” to reaching the end of a tightening cycle that pushed rates from near zero to 4.5 per cent since March...