The Daily

March 24, 2023 Daily Market Commentary Canadian Headlines The US and Canada are poised to announce a deal to rewrite an immigration accord that has driven people to cross the border between the two countries by land to refile asylum claims, a key irritant between the governments, people familiar with the talks say. Joe Biden arrived [...]

March 23, 2023 Daily Market Commentary Canadian Headlines A Canadian lawmaker has resigned from Justin Trudeau’s governing Liberal Party caucus after a media report alleged he spoke to Chinese diplomats in Toronto in 2021 and advised them not to release two imprisoned Canadians for political reasons. Han Dong, who represents a district in Toronto, said the [...]

March 15, 2023 Daily Market Commentary World Headlines Europe’s Stoxx 600 equity benchmark fell more than 2%, with a gauge of banks plunging as much as 6%. Credit Suisse shares slumped 21% after its top shareholder ruled out more assistance, while the cost of default insurance on the Swiss lender’s short-term debt approached distressed levels. Some voices are now also calling [...]

March 14, 2023 Daily Market Commentary Canadian Headlines The yield on short-term Canada bonds is falling at the fastest rate in decades, as investors bet the Bank of Canada will cut rates in coming months to counter fallout from the collapse of US regional banks. Canada’s two-year benchmark yield tumbled 42 basis points Monday to 3.532%, bringing its [...]

March 13, 2023 Daily Market Commentary Canadian Headlines A group of investors including Silver Lake and the Canada Pension Plan Investment Board has agreed to buy software developer Qualtrics International Inc. at a $12.5 billion valuation. Chief Executive Officer Zig Serafin will continue to steer the company, which will get delisted after the deal, SAP said in a statement. SAP SE will offload its entire stake [...]

March 10, 2023 Daily Market Commentary Canadian Headlines The Bank of Canada’s No. 2 official said policymakers need time to assess whether they’ve raised borrowing costs enough to curb inflation, reiterating that their path on rates can differ from peers. In the first speech after keeping interest rates unchanged for the first time in nine meetings, [...]

March 9, 2023 Daily Market Commentary Canadian Headlines Lithium Royalty Corp. raised C$150 million ($109 million) in Canada’s biggest initial public offering in 10 months, tapping investor appetite for a slice of the booming battery metals industry. The Toronto-based company sold 8.82 million shares for C$17 apiece in its IPO, within its targeted range of C$16 [...]

March 8, 2023 Daily Market Commentary Canadian Headlines A major shareholder of Canaccord Genuity Group Inc. is trying to force out a quartet of directors who are standing in the way of a leveraged buyout by management of the Canadian financial firm. Skky Capital Corp. has requisitioned a shareholder meeting to remove Gillian Denham and three other board members, according [...]

March 7, 2023 Daily Market Commentary Canadian Headlines Prime Minister Justin Trudeau yielded to pressure over allegations China interfered in Canada’s elections, appointing a special investigator to study the matter. “Upholding confidence in our democratic process in our elections, in our institutions, is of utmost importance,” the prime minister told reporters Monday evening in Ottawa.  “I will [...]

March 6, 2023 Daily Market Commentary Canadian Headlines Canada’s crackdown on Chinese investment in critical minerals will make it harder for miners to produce the metals needed for the global energy transition, according to Ivanhoe Mines Ltd. founder Robert Friedland. “We’re going to be deprived of all this Chinese capital in all these junior mining companies,” the billionaire [...]