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Source: Financialpost July 07, 2023

Posthaste: Bank of Canada rate hike 'at best unnecessary — at worst a mistake,' says CIBC

Policymakers are misreading the tea leaves on impact of interest rate hikes so far, says economist We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team....

Source: Financialpost July 07, 2023

William Watson: An excess profits tax? OK, Mr. Singh, but how about an excess wages tax, too?

If businesses or unions are “gouging,” competitors will punish them NDP Leader Jagmeet Singh says Canada needs an excess profits tax to help reduce inflation. His argument seems to be that if you let grocery chains and others know they won’t pr...

Economy Source: Financialpost July 07, 2023

Canada unexpectedly posts largest trade deficit since 2020

Data suggest exports may no longer be bright spot in the economy Canada’s merchandise trade balance unexpectedly recorded its largest deficit since October 2020, in large part due to lower energy prices. THIS CONTENT IS RESERVED FOR SUB...

Source: BNN Bloomberg July 06, 2023

Markets are acting like a recession isn’t on the way: Strategist

Stock and credit markets in the developed world appear to be out of sync with economic fundamentals, one global market strategist is warning.    The equity and bond markets are not pricing in the very elevated risk of a recession that is likely to begin in t...

Market Call Source: BNN Bloomberg July 06, 2023

Shane Obata's Top Picks: July 5, 2023

Shane Obata, portfolio manager, Middlefield Capital FOCUS: Global large-cap stocks  MARKET OUTLOOK: It was a great first half for the tech bulls, with the Nasdaq 100 rising around 39 per cent for its best start to a year ever (with data going back...

Source: BNN Bloomberg July 06, 2023

Bond yields higher as another rate hike signaled

Yields on U.S. Treasuries climbed while stocks slipped as traders digested commentary from Federal Reserve officials’ last meeting. The S&P 500 fell 0.2 per cent following the release of the minutes of the Fed’s June meeting which indicated hawkish leaning...

Source: BNN Bloomberg July 06, 2023

TSX recap: Index finishes 0.5% lower amid broad-based losses

Canada's main stock index was down more than 100 points Wednesday amid broad-based weakness, while U.S. stock markets also slumped.  The S&P/TSX Composite Index was down 100.98 points, or 0.5 per cent, at 20,103.89. In New York, where stock markets were...

Source: Financialpost July 06, 2023

Bruce Power planning world’s biggest nuclear plant in Ontario

Growing demand for clean energy spurring interest in atomic energy A Canadian utility is starting early work to expand a nuclear plant, potentially building the world’s biggest facility as growing demand for clean energy spurs interest in atomi...

Source: Financialpost July 06, 2023

Consumer watchdog introduces new guidelines to protect 'at risk' mortgage borrowers

FCAC research shows growing number of Canadians struggling to keep up with their financial commitments Canada’s financial consumer watchdog has released new guidelines aimed at protecting consumers considered at risk of defaulting on a mortgage...

Source: Financialpost July 06, 2023

RRIF withdrawal rules for retirees need to be updated

Retirees should beware of using the RRIF conversion age or the minimum withdrawal schedule as a guideline Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases...