Market Commentary & Research
Give Credit to the Banks
Canadian banks are in the headlines again thanks to Steve Eisman of Neuberger Berman his short thesis on the banks. The basis behind the short is that the banks are not provisioning enough for loan losses in the event of normalization in credit conditions. In addition, capital ratios will be slip given risk-weighted assets are calculated assuming too rosy a picture on the Canadian economy (capital ratios range from 11-12%; the regulatory requirement is 9%).
Learn More about Give Credit to the BanksThe Magic Money Tree
It seems that every few years or so we get a cool new economic term that gets thrown around by politicians. This time it is modern monetary theory (MMT), a new tool that some upcoming progressive US presidential candidates are advocating for.
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Market Commentary & Research
Whipsawed
Clearly, the equity market took to heart the age-old adage “don’t fight the Fed”, while the bond market grappled with the weaker global economic data and began to price in the potential for short-term interest rates moving lower.
Learn More about WhipsawedInvestment Strategy: “Random Gleanings on a Nothing Week”
I titled Friday’s MorningTack “Nothing From Nothing,” which was a 1974 hit song by Billy Preston. As scribed last Friday: We entered this week with my short-term indicators suggesting the stock market was not going to do much this week since on a trading basis the stock market was out of internal energy. So far, that’s been a pretty good short-term trading call since the S&P 500 closed last Friday (4-12-19) at 2907.41 and yesterday closed at 2900.45.
Learn More about Investment Strategy: “Random Gleanings on a Nothing Week”Recent News
Raymond James named one of B.C’s Top Employers for a Fourth Year
We are pleased to announce that Raymond James has again been recognized as one of BC’s Top Employers for 2019. “Being honoured for a fourth year in a row by BC’s Top Employers program reaffirms what we already know -- that our people have helped to create the type of firm that good people want to join and grow. It is our collective efforts that make a difference and our workplace a success,” says Paul Allison, Chairman and CEO of Raymond James Ltd.
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Find an advisor in Canada
At Raymond James, our financial/investment advisors have the freedom to offer unbiased advice that’s right for you.