The threat of a recession and lower interest rates in Canada are making the Group of Seven’s best-performing bond market even more attractive.
Showing posts with label Canada. Show all posts
Showing posts with label Canada. Show all posts
Sunday, July 05, 2015
Thursday, August 28, 2014
Buffett puts shareholders ahead of patriotism in Canadian deal
(Reuters) - Warren Buffett may be most famous for the billions of dollars he has made from investing but he is also well known as a cheerleader for the United States.
Thursday, July 11, 2013
Canadian May New Home Price Index Rises 0.1% on Calgary Gains
Canada’s new home price index rose in May led by Calgary and cities in Ontario, the government statistics agency said.
Saturday, August 20, 2011
Canada Dollar Falls on European Debt Crisis, Slower U.S. Economic Growth
Canada’s dollar fell for a fourth week versus its U.S. counterpart in the longest losing streak since June amid concern global growth will falter as the American economy stalls and Europe’s debt crisis worsens.
The loonie, as the currency is nicknamed, dropped against 13 of its 16 most-traded peers as crude oil, Canada’s biggest export, tumbled for a fourth week. Yields on Canada’s 10-year bonds touched a record low as economists cut forecasts for growth in the U.S., the nation’s biggest trade partner. Retail sales in rose 0.6 percent in June, data next week may show.
The loonie, as the currency is nicknamed, dropped against 13 of its 16 most-traded peers as crude oil, Canada’s biggest export, tumbled for a fourth week. Yields on Canada’s 10-year bonds touched a record low as economists cut forecasts for growth in the U.S., the nation’s biggest trade partner. Retail sales in rose 0.6 percent in June, data next week may show.
Monday, February 07, 2011
A shared vision for homeland and economic security
On Friday, President Barack Obama and Canadian Prime Minister Stephen Harper signed an historic statement - the "Shared Vision for Perimeter Security and Economic Competitiveness" - that sets forth how our two countries will manage our shared homeland and economic security in the 21st century.
The United States and Canada not only share the longest geographic border in the world, but also the largest and most integrated economic partnership, with over $1 trillion in annual trade and foreign direct investment between our countries. In fact, Canada is a larger market for U.S. goods than all 27 countries of the European Union combined. Both sides recognize that, to sustain this productive economic relationship, we must work together to protect our borders and shared critical infrastructure from terrorism and transnational crime, such as drug smuggling and human trafficking.
The United States and Canada not only share the longest geographic border in the world, but also the largest and most integrated economic partnership, with over $1 trillion in annual trade and foreign direct investment between our countries. In fact, Canada is a larger market for U.S. goods than all 27 countries of the European Union combined. Both sides recognize that, to sustain this productive economic relationship, we must work together to protect our borders and shared critical infrastructure from terrorism and transnational crime, such as drug smuggling and human trafficking.
Tuesday, January 04, 2011
Green agenda sidetracked by global economic focus
For years, the bumper-sticker slogan of the environmental movement has been: "Think globally, act locally."
As 2011 dawns, the global perspective is increasingly lost in immediate concerns about the economy while local action seems stronger than ever.
Local issues including clean water and air, recycling and transit have become givens for generations of Canadians who came of age after activism went mainstream in the 1960s and '70s. In Canadian cities, no one puts up with visible polluters any more. Recycling is taken for granted, cloth shopping bags have elbowed aside plastic and bike clothes are the new chic in some circles.
But the momentum for action on climate change, the primary focus of international environmental action for the past 15 years, has stalled.
In the recent midterm elections in the United States, the environment was rarely on the radar. The issues were the economy, jobs, health care and security. One of the big losers was any prospect that the U.S. would be going ahead with a cap and trade system for controlling greenhouse gas emissions.
The legislation that would have instituted cap and trade was already stalled before the midterm elections over concerns that it could kill jobs and the incoming Republican tide will likely wash away any vestiges of enthusiasm for further action.
More than half of the incoming Republican legislators, who are changing the balance of power in Washington, are on the record as being skeptical about climate change science.
The Conservative government in Ottawa is taking its cues on the issue from Washington. Ministers argue that we'd be risking Canadian jobs if we take action to reduce emissions that makes us less competitive with the U.S.
The waning interest in concrete action on climate change isn't found only in North America.
The lack of progress in the latest round of UN-sponsored climate change negotiations in Cancun reflected the general lack of interest in the issue among nations that are struggling through the continuing economic slowdown.
In British Columbia, Premier Gordon Campbell has made the fight against climate change a centrepiece of his regime, often to the discomfort of many in his caucus and his supporters in the business community.
With Campbell's departure early in the new year, it's not clear whether the Liberal government will be as enthusiastic about pushing forward with initiatives that can be construed as adding costs to operating a business in B.C. Some of the candidates for his job have already called for a pause on both cap and trade and further increases in the carbon tax.
What will continue is the progress being made through the pursuit of energy efficiency, driven by U.S. concerns over strategic concerns as well as fear of sharply rising energy costs.
Over the past two decades, significant gains have been made by automakers in improving the efficiency of the vehicles they manufacture.
Plug-in electric cars, which could have a significant advantage in British Columbia -- where most of our electricity is generated from water power -- are expected to be players for the next few years, but even small advances in the fuel efficiency of more conventional vehicles translate into millions of litres saved and carbon dioxide that won't be released in to the atmosphere.
The new mood in Washington is expected to take some of the heat off the Alberta oilsands, which remain the single most visible environmental issue in Canada. The oilsands, called tarsands by their opponents, are the target of multiple campaigns by the well-funded and organized international environment movement. But they also have powerful proponents among Americans who view the oilsands as a friendly source in a world where much of the available energy is controlled by more hostile regimes.
The energy battleground in British Columbia will be the $5.5-billion Enbridge Northern Gateway Project, which calls for a pair of pipelines from Alberta to the deepwater port of Kitimat.
Environmentalists and many first nations oppose the project on several grounds: the potential of a breach in the pipeline, the risk of a tanker accident and general opposition to anything connected to the oilsands.
Our need for energy will also be at the centre of what will be a continuing battle over the proposed Site C dam on Peace River, as well as controversial run-of-river hydro projects.
The fight over fish farms will also continue to fester, with part of the focus on the Cohen Commission, which is looking into what was supposed to be the collapse of the sockeye stocks before the massive run this fall raised even more questions about what is really going on.
Source: http://communities.canada.com
As 2011 dawns, the global perspective is increasingly lost in immediate concerns about the economy while local action seems stronger than ever.
Local issues including clean water and air, recycling and transit have become givens for generations of Canadians who came of age after activism went mainstream in the 1960s and '70s. In Canadian cities, no one puts up with visible polluters any more. Recycling is taken for granted, cloth shopping bags have elbowed aside plastic and bike clothes are the new chic in some circles.
But the momentum for action on climate change, the primary focus of international environmental action for the past 15 years, has stalled.
In the recent midterm elections in the United States, the environment was rarely on the radar. The issues were the economy, jobs, health care and security. One of the big losers was any prospect that the U.S. would be going ahead with a cap and trade system for controlling greenhouse gas emissions.
The legislation that would have instituted cap and trade was already stalled before the midterm elections over concerns that it could kill jobs and the incoming Republican tide will likely wash away any vestiges of enthusiasm for further action.
More than half of the incoming Republican legislators, who are changing the balance of power in Washington, are on the record as being skeptical about climate change science.
The Conservative government in Ottawa is taking its cues on the issue from Washington. Ministers argue that we'd be risking Canadian jobs if we take action to reduce emissions that makes us less competitive with the U.S.
The waning interest in concrete action on climate change isn't found only in North America.
The lack of progress in the latest round of UN-sponsored climate change negotiations in Cancun reflected the general lack of interest in the issue among nations that are struggling through the continuing economic slowdown.
In British Columbia, Premier Gordon Campbell has made the fight against climate change a centrepiece of his regime, often to the discomfort of many in his caucus and his supporters in the business community.
With Campbell's departure early in the new year, it's not clear whether the Liberal government will be as enthusiastic about pushing forward with initiatives that can be construed as adding costs to operating a business in B.C. Some of the candidates for his job have already called for a pause on both cap and trade and further increases in the carbon tax.
What will continue is the progress being made through the pursuit of energy efficiency, driven by U.S. concerns over strategic concerns as well as fear of sharply rising energy costs.
Over the past two decades, significant gains have been made by automakers in improving the efficiency of the vehicles they manufacture.
Plug-in electric cars, which could have a significant advantage in British Columbia -- where most of our electricity is generated from water power -- are expected to be players for the next few years, but even small advances in the fuel efficiency of more conventional vehicles translate into millions of litres saved and carbon dioxide that won't be released in to the atmosphere.
The new mood in Washington is expected to take some of the heat off the Alberta oilsands, which remain the single most visible environmental issue in Canada. The oilsands, called tarsands by their opponents, are the target of multiple campaigns by the well-funded and organized international environment movement. But they also have powerful proponents among Americans who view the oilsands as a friendly source in a world where much of the available energy is controlled by more hostile regimes.
The energy battleground in British Columbia will be the $5.5-billion Enbridge Northern Gateway Project, which calls for a pair of pipelines from Alberta to the deepwater port of Kitimat.
Environmentalists and many first nations oppose the project on several grounds: the potential of a breach in the pipeline, the risk of a tanker accident and general opposition to anything connected to the oilsands.
Our need for energy will also be at the centre of what will be a continuing battle over the proposed Site C dam on Peace River, as well as controversial run-of-river hydro projects.
The fight over fish farms will also continue to fester, with part of the focus on the Cohen Commission, which is looking into what was supposed to be the collapse of the sockeye stocks before the massive run this fall raised even more questions about what is really going on.
Source: http://communities.canada.com
Thursday, December 30, 2010
Canada Dollar Reaches Beyond Parity With Greenback a Third Day on Outlook
Canada’s dollar touched a level beyond parity with its U.S. counterpart for a third consecutive day on speculation the global economic recovery will strengthen in 2011, making growth-linked currencies more attractive.
The loonie, as the currency is nicknamed, has gained 3 percent in 2010, the sixth-best performance in a measure of 10 developed-nation currencies, Bloomberg Correlation-Weighted Currency Indexes showed. Australia’s dollar rose 12 percent, while the U.S. dollar fell 2.8 percent. U.S. businesses unexpectedly expanded in December at the fastest pace in 22 years, data showed.
“The pick-up in the U.S. economy will be a benefit to our domestic economy,” Steve Butler, director of foreign-exchange trading in Toronto at Bank of Nova Scotia’s Scotia Capital unit, said via e-mail. “We’ve been stuck essentially in a 20-point range for two days now. I expect it to break once we get into the new year.”
The Canadian currency rose 0.1 percent to C$1 per U.S. dollar at 5 p.m. in Toronto, compared with C$1.0009 yesterday. It gained as much as 0.2 percent to 99.91 cents per U.S. dollar.
The loonie remained stronger as data showed first-time claims for unemployment benefits in the U.S., Canada’s biggest trade partner, declined to the lowest level since July 2008 and a gauge of U.S. business unexpectedly climbed.
The claims decreased by 34,000 to 388,000 in the week ended Dec. 25, Labor Department figures showed today in Washington.
Highest Since 1988
The Institute for Supply Management-Chicago Inc. said its business barometer rose to 68.6 this month, the highest level since July 1988, from 62.5 in November. The median forecast in a Bloomberg survey was for a drop to 61.
Italian business confidence rose this month to the highest in almost three years, Isae institute date showed, helping to boost demand for currencies that benefit from global growth.
“The economic optimism going into the calendar year-end and beyond will likely contribute to more risk-related activity in currency markets, which should benefit the Canadian dollar,” Jack Spitz, managing director of foreign exchange at National Bank of Canada, said by phone from Toronto.
Canada’s currency fell against 11 of its 16 most-traded peers today, sliding the most against Brazil’s real while appreciating the most versus the pound. The loonie has risen 2.6 percent in December versus the greenback. It has gained the most this month versus the pound, 3.4 percent, and fallen the most against the Swiss franc, 4.5 percent.
2010 Performance
For the year, the Canadian dollar, called the loonie for the image of the aquatic bird on the C$1 coin, has strengthened against seven of its major counterparts. It advanced the most against the Danish krone, 12 percent, and fell the most versus the yen, 8.4 percent.
The loonie will trade at parity with its U.S. counterpart at the end of March, weaken to $1.01 per greenback by June, and end 2011 at parity, according to the median forecast in a Bloomberg survey of 29 economists and analysts.
Government bonds were little changed today. The two-year note yielded 1.70 percent after reaching 1.77 percent yesterday, the highest level since July 9. The 1.5 percent security due in December 2012 slipped one cent to C$99.63. A basis point is 0.01 percentage point. The 10-year note yielded 3.15 percent.
Canada’s government bonds have returned 5.9 percent in 2010, after losing 1.5 percent last year, according to a Bank of America Merrill Lynch index. The securities gained 12 percent in 2008. Global sovereign bonds are up 3.5 percent this year, according to a separate Merrill Lynch index.
Canadian corporate debt has returned 7.1 percent this year, and provincial bonds have gained 7 percent.
Crude oil for February delivery traded at $89.43 a barrel in New York, down 1.9 percent. It rose to $91.88 on Dec. 27, the highest level since Oct. 7, 2008. Canada is the largest supplier of crude to the U.S.
Source: www.bloomberg.com
The loonie, as the currency is nicknamed, has gained 3 percent in 2010, the sixth-best performance in a measure of 10 developed-nation currencies, Bloomberg Correlation-Weighted Currency Indexes showed. Australia’s dollar rose 12 percent, while the U.S. dollar fell 2.8 percent. U.S. businesses unexpectedly expanded in December at the fastest pace in 22 years, data showed.
“The pick-up in the U.S. economy will be a benefit to our domestic economy,” Steve Butler, director of foreign-exchange trading in Toronto at Bank of Nova Scotia’s Scotia Capital unit, said via e-mail. “We’ve been stuck essentially in a 20-point range for two days now. I expect it to break once we get into the new year.”
The Canadian currency rose 0.1 percent to C$1 per U.S. dollar at 5 p.m. in Toronto, compared with C$1.0009 yesterday. It gained as much as 0.2 percent to 99.91 cents per U.S. dollar.
The loonie remained stronger as data showed first-time claims for unemployment benefits in the U.S., Canada’s biggest trade partner, declined to the lowest level since July 2008 and a gauge of U.S. business unexpectedly climbed.
The claims decreased by 34,000 to 388,000 in the week ended Dec. 25, Labor Department figures showed today in Washington.
Highest Since 1988
The Institute for Supply Management-Chicago Inc. said its business barometer rose to 68.6 this month, the highest level since July 1988, from 62.5 in November. The median forecast in a Bloomberg survey was for a drop to 61.
Italian business confidence rose this month to the highest in almost three years, Isae institute date showed, helping to boost demand for currencies that benefit from global growth.
“The economic optimism going into the calendar year-end and beyond will likely contribute to more risk-related activity in currency markets, which should benefit the Canadian dollar,” Jack Spitz, managing director of foreign exchange at National Bank of Canada, said by phone from Toronto.
Canada’s currency fell against 11 of its 16 most-traded peers today, sliding the most against Brazil’s real while appreciating the most versus the pound. The loonie has risen 2.6 percent in December versus the greenback. It has gained the most this month versus the pound, 3.4 percent, and fallen the most against the Swiss franc, 4.5 percent.
2010 Performance
For the year, the Canadian dollar, called the loonie for the image of the aquatic bird on the C$1 coin, has strengthened against seven of its major counterparts. It advanced the most against the Danish krone, 12 percent, and fell the most versus the yen, 8.4 percent.
The loonie will trade at parity with its U.S. counterpart at the end of March, weaken to $1.01 per greenback by June, and end 2011 at parity, according to the median forecast in a Bloomberg survey of 29 economists and analysts.
Government bonds were little changed today. The two-year note yielded 1.70 percent after reaching 1.77 percent yesterday, the highest level since July 9. The 1.5 percent security due in December 2012 slipped one cent to C$99.63. A basis point is 0.01 percentage point. The 10-year note yielded 3.15 percent.
Canada’s government bonds have returned 5.9 percent in 2010, after losing 1.5 percent last year, according to a Bank of America Merrill Lynch index. The securities gained 12 percent in 2008. Global sovereign bonds are up 3.5 percent this year, according to a separate Merrill Lynch index.
Canadian corporate debt has returned 7.1 percent this year, and provincial bonds have gained 7 percent.
Crude oil for February delivery traded at $89.43 a barrel in New York, down 1.9 percent. It rose to $91.88 on Dec. 27, the highest level since Oct. 7, 2008. Canada is the largest supplier of crude to the U.S.
Source: www.bloomberg.com
Thursday, December 23, 2010
Canada's housing market one of global top performers
TORONTO — Scotia Economics says Canada's housing market turned in one of the best, but also one of the most volatile, performances among advanced countries in 2010.
In its year-end real estate report, Scotia Economics says global residential real estate markets experienced a modest but uneven recovery this year, supported by ultra-low interest rates and gradually improving economic conditions.
Canada was among six of 12 countries studied that saw home prices increase.
Prices in the U.S. and Germany were flat, while those in Ireland, Italy, Japan and Spain fell.
The Canadian real estate market experienced an unusually active winter and spring prompted by pent-up demand coming out of the recession that gave way to an unusually soft summer.
The bank predicts a more subdued Canadian market in 2011 as interest rates remain near historical lows amid an uncertain global economy.
Source: www.ctv.ca
In its year-end real estate report, Scotia Economics says global residential real estate markets experienced a modest but uneven recovery this year, supported by ultra-low interest rates and gradually improving economic conditions.
Canada was among six of 12 countries studied that saw home prices increase.
Prices in the U.S. and Germany were flat, while those in Ireland, Italy, Japan and Spain fell.
The Canadian real estate market experienced an unusually active winter and spring prompted by pent-up demand coming out of the recession that gave way to an unusually soft summer.
The bank predicts a more subdued Canadian market in 2011 as interest rates remain near historical lows amid an uncertain global economy.
Source: www.ctv.ca
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