The Daily

March 19th, 2020 Daily Market Commentary Canadian Headlines Almost a trillion dollars has been wiped off Canadian stocks in a month as the rout accelerated Wednesday, taking the market through a key support level to the lowest since 2012. The S&P/TSX Composite Index tumbled 7.6%, sending it below levels plumbed during the last oil-market rout from 2014-2016. [...]

March 18th, 2020 Daily Market Commentary Canadian Headlines Prime Minister Justin Trudeau will unveil a fiscal stimulus package nearing C$30 billion ($21 billion) on Wednesday in a bid to shield Canada’s economy from tumbling into a recession. The government will release details of a fiscal jolt that will be at least 1% of economic output, according to [...]

March 17th, 2020 Daily Market Commentary Canadian Headlines Canadian stocks plunged almost 10% in another day of wild trading as new measures to curb the spread of the coronavirus only intensified concerns the economy is heading into a recession. Prime Minister Justin Trudeau said the government will restrict the entry of all non-residents into Canada except Americans, while U.S. [...]

March 16th, 2020 Daily Market Commentary Canadian Headlines Canada’s corporate bond spreads widened last week at a faster pace than when Lehman Brothers crumbled. In response to the crash in oil prices and the coronavirus pandemic, the Bank of Canada surprised the market Friday by cutting interest rates by half a percentage point. The extra yield investors demand to [...]

March 13th, 2020 Daily Market Commentary Canadian Headlines Canadian stocks suffered a stunning 12% drop, the largest in eight decades, as investors size up the likelihood of a global recession because of the coronavirus pandemic. The S&P/TSX Composite Index had its biggest one-day decline since May 1940, according to data compiled by Bloomberg. The 230 [...]

March 12th, 2020 Daily Market Commentary Canadian Headlines Canada’s stock market has gone from a bull market to bear in just 14 trading days, wiping out C$454.2 billion ($330.6 billion) in value on the escalating spread of the coronavirus and plunging oil prices. The S&P/TSX Composite Index slumped 20% from its Feb. 20 closing peak, [...]

March 11th, 2020 Daily Market Commentary Canadian Headlines Canadian equities surged Tuesday on expectations governments will introduce economic buffers to counter the impact from coronavirus, Oil rebounded from its worst loss since 1991. Canada’s Prime Minister Justin Trudeau and Deputy Prime Minister Chrystia Freeland said the government will announce measures soon to help offset the drag from the coronavirus [...]

March 10th, 2020 Daily Market Commentary Canadian Headlines Canadian markets were battered on all fronts as the collapse in oil sent shockwaves through a country with one of the biggest exposures to the commodity among the Group of Seven. The S&P/TSX Composite Index plunged 10.3%, wiping out $218 billion in market value in the biggest [...]

March 9th, 2020 Daily Market Commentary Canadian Headlines Another shockwave is about to rip through a world economy already reeling from the coronavirus. Oil prices plunged after the dramatic breakdown of talks between OPEC and Russia prompted Saudi Arabia to launch a price war. Brent crude tumbled by almost a third to $31 a barrel on Monday, as Goldman [...]

March 6th, 2020 Daily Market Commentary Canadian Headlines After slashing interest rates by half a percentage point on Wednesday, Poloz defended the Bank of Canada’s from the criticism its most aggressive move in more than a decade may fuel already dangerously high household debt levels, while doing little to solve the underlying problems associated with the spread of [...]