How lengthy can the gravity-defying rally proceed, buyers are asking, as Canadian and U.S. markets scale new heights? Funding financial institution UBS Group AG believes whereas the U.S. enterprise cycle has transitioned to the late stage, “the excellent news is that the financial system might be late cycle for a very long time.” Strong Fb and Microsoft’s earnings after markets shut right this moment might additional gasoline investor sentiment.
Financial institution of Canada is more likely to preserve its powder dry this morning, with CIBC Capital Markets noting that round 54 per cent of shoppers it surveyed anticipate the Financial institution’s overriding tone right this moment to be ‘impartial’, 35 per cent anticipate a dovish end result and the remaining are on the lookout for a hawkish tilt.
The Monetary Put up kicks off Right down to Enterprise right this moment, a brand-new podcast, aimed toward at tackling the most popular matters in Canadian enterprise. Every week, host Emily Jackson will communicate to key business gamers to interrupt down the largest tales taking place in Canadian enterprise — from pot to pipelines, actual property to worldwide commerce wars.
Right here’s what’s breaking this morning:
- Financial institution of Canada to make price announcement and launch its newest financial coverage report at 10 a.m. ET in Ottawa. Governor Stephen Poloz will maintain a information convention at 11:15 a.m.
- Liberal Home chief Bardish Chagger makes an announcement to help superior manufacturing in southern Ontario in Kitchener
- The Hashish Beverage Producers Alliance mark their official launch in Toronto
- Former justice minister Jody Wilson-Raybould and former Treasury Board president Jane Philpott give the keynote speech to the First Nations Justice Council in Richmond at 1 p.m. PST
- Notable Earnings: Lundin Mining, Cenovus Vitality Inc., Mullen Group, Boeing, Microsoft Inc. Fb Inc.
Canadian yoga-pants specialists Lululemon Athletica Inc. on Wednesday forecast annual income development within the low teenagers for the following 5 years. Lululemon, which has been specializing in menswear, expects to greater than double the scale of its income from the enterprise phase by 2023. The corporate, which has loved a 268% rally, is on the lookout for new income streams to stretch its lead within the sportswear area.
FP readers have been riled up by a new report that auto insurance coverage charges have been rising. One reader, Joe M, wrote to us that “there needs to be a royal fee on auto insurance coverage — the business is run by grasping criminals.”
Readers are additionally divided on the carbon tax that got here into impact in Ontario this yr and is being hotly debated throughout the nation. Whereas a number of readers emailed us to say they have been in opposition to the carbon tax, reader Frank S believes we should scale back our emissions. However he argues: “Why does Canada shoulder this large financial burden whereas a lot of the world continues to pollute. I consider science will discover the answer to atmospheric air pollution in time to avoid wasting us.”
— With recordsdata from The Canadian Press, Thomson Reuters and Bloomberg