Daily News

Source: BNN Bloomberg August 31, 2022

Global bond index tumbles toward bear market on Powell pushback

Bonds are sliding toward the first bear market in a generation, burning investors who erred in bets that central banks would pivot away from rapid interest-rate hikes. The Bloomberg Global Aggregate Index, which tracks total returns from investment-grade g...

Source: BNN Bloomberg August 31, 2022

Market selloff's sequel is moment of truth for summer stock enthusiasts

It’s easy to be an optimist when sailing is smooth. The real test comes when things get rough. That’s where true-believer bulls find themselves as momentum reverses in equity markets, with pro-stock arguments based on everything from valuations to financia...

FP Economy Source: Financialpost August 31, 2022

Canadian economy grows 3.3% in second quarter, but momentum slowing: What you need to know

Statistics Canada estimates GDP shrank 0.1% in July Canada’s economy grew in the second quarter, but momentum is slowing as the Bank of Canada’s aggressive interest-rate hikes take some of the heat out of the economy. We ap...

FP Economy Source: Financialpost August 31, 2022

Bank of Canada sets record straight on 'printing money' claim with Twitter thread

Central bank has been using social media to engage the public on the economy OTTAWA — As the Bank of Canada tries to rein in red hot inflation, the central bank is engaging in another fight: one against misinformation. We apolo...

Source: BNN Bloomberg August 30, 2022

U.S. stocks, bonds retreat on Fed’s tough rates message

US stocks and Treasuries fell again Monday as the realization that interest rates are likely to remain elevated for an extended period continued to force a repricing across assets.  The S&P 500 and the Nasdaq 100 dropped a second day, adding to the rout th...

Source: BNN Bloomberg August 30, 2022

Economic gloom, market woes cast pall on Canadian bank earnings

A slump in capital-markets activity and expectations that the economy may take a turn for the worse are casting a pall over a Canadian bank earnings season that showed the lenders’ core businesses in otherwise solid shape. Five of Canada’s six largest bank...

Market Call Source: BNN Bloomberg August 30, 2022

Paul Harris' Top Picks: August 29, 2022

Paul Harris, partner and portfolio manager, Harris Douglas Asset Management FOCUS: North American and European large caps MARKET OUTLOOK: The bear market so far has all been mostly multiple contraction. The S&P 500 price-to-earnings has gone from 2...

Source: BNN Bloomberg August 30, 2022

Peloton and Zoom show more pain for COVID trade

Peloton Interactive Inc. and Zoom Video Communications Inc., perhaps the two stocks most associated with COVID-era gains, now are trading below where they were before the pandemic upended life around the globe. Both the fitness subscription company and the...

Source: BNN Bloomberg August 30, 2022

North American markets edge lower as investors account for hawkish U.S. Fed

North American stock markets were down slightly Monday as investors continued to adjust to the idea that inflation — as well as the efforts by central banks to curb it — is not going to go away anytime soon. "I think the old adage, 'don't fight the Fed' is...

FP Economy Source: Financialpost August 29, 2022

Justin Trudeau's hands-off approach to inflation is becoming untenable

New spending could make inflation worse, but Trudeau's low rating in opinion polls means the government is headed for a fight Prime Minister Justin Trudeau faces growing pressure to help Canadian households offset surging inflation as he meets with...