Taxes are going up, TO condo prices are going down and recreational property up 15% to 40% in the Canadian market.
How the US will Inflate its Debt Away
TD Bank Releases ALARMING Report About State Of Ca
Why are Interest rates not falling.
Goldman Sachs’ top AI picks
Does Printing Money Cause Inflation?
HSBC, the Untouchable Titan of Global Finance
US Economist’s Shock Warning: “Biggest Crash in Ou
Toni Gravelle Speech
Alberta Premier on the Supreme Court\'s ruling, an

What Bank of America Just Said is Shocking

Horrific Canadian Banking Corruption Right Before

The Banking System is in Free-Fall
The Financialization of Real Estate
The FDIC Threatens Downgrades That Will Cut Off Ac
Bitcoin regulations are coming

Are we in a bubble and, if so, when will it pop?

Canadian real estate and government, March 29

FIRE report January 12th

BOC and reconciliation with Indigenous people

Nov 26 FIRE report

FSIM FIRE report Nov 23

Nov 18th FIRE report

Poloz debunked, Nov 12 FIRE report

Central bank digital currencies: foundational prin

Nov 5th FIRE report

FIRE report November 2nd

Canadian real estate February 24

Real estate: Feb 9, bulls vs bears

Feb 1, The Dumb Money Real Estate Vid

January real estate report 2021

December 4th real estate report

Real estate, mortgage debt to income ratio improve

Real estate: fiscal conservatism/ponzi neoliberali

Caution for real estate investors, Oct 14th report

Canadian bank industry overview - part 1

Why insurance should partner with flood-claim.com

Canadian large bank comparison

Current state of fintech in Canada

XE.com explains their Big Data and AI strategy.

Greenpeace urges TD bank boycott

Insurance flood US vs Can comparison.

Canadian bank industry overview part 5

Canadian banking industry overview part 4

Part 3 Canadian bank industry overview

Canadian banking overview - part 2

Death to bitcoin, long live bitcoin

RBC to integrate Wave Technologies

Deposits have skyrocketed since the start of the p

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Research
Part 2: The Merchant Loyalty Industrial Complex Collapse
fsim.ca/docs/Credit_cards_Part_2v4.pdf
Mark Sibthorpe
Since November 2, 2021, Loyalty Ventures Inc.'s (Airmiles) market cap has decreased from $861.42M to $2.11M, a decrease of -99.75%. This compares closely to 2018, when Aimia sold Aeroplan back to Air Canada and partners TD and CIBC for $238 million. For reference, in 2005 Aeroplan launched an IPO valuing it at $2 billion. Related to Aimia’s downfall, it had also previously sold the UK Nectar program to Sainsburys for $120 million, $580 million lower than it paid for Nectar in 2007.
This report digs under the surface and uncovers why loyalty is going the way of the dodo.
Merchants should not waste time fighting card networks
fsim.ca/docs/Card_fees_ongoing.pdf
Mark Sibthorpe
This is part one of a two part assessment of merchant frustration due to high credit card fees. The second part of this report will outline an alternative approach that merchants can consider. An approach that is a win for them and also for the card networks.
The full story of SVB March 12th, 2023
fsim.ca/docs/SVB_special_report2.pdf
Mark Sibthorpe
Aggregated news and research related to SVB. Apart from SVB, included in this report is related news with respect to other banks and non-traditional companies looking to add financial services that also appear risky.
March 2023 bank earnings summary
fsim.ca/docs/bankearningsfriday.pdf
Mark Sibthorpe
This report provides a snapshot into recent bank earnings and related news as published in fsim.ca reports.
Real estate report: October 30th, 2020
fsim.ca/docs/Oct30rereportv1.pdf
Mark Sibthorpe
The big buzz in real estate recently is Mark Carney being scooped up by Brookfield. This means more juice for riskier borrowers. Brookfield, a huge player in real estate, both residential and commercial, recently bought its remaining shares from Sagen (Genworth MI Canada), which values the company at $3.8 bn.
VersaBank’s New High-Security VPN Proving Especially Valuable During COVID-19 Pandemic
fsim.ca/docs/TailscaleReleaseMarch30FINAL.pdf
Press Release
2014 FSIM when Bernanke visited Montreal
fsim.ca/docs/MockBernanke.pdf
Mark Sibthorpe
Considering Bernanke is hated by the Republicans and hated even more by the Democrats, and is currently under scrutiny for saving AIG but not Lehman, (in hindsight) with respect to issues over solvency vs liquidity, the Montreal lovefest attended by 1,100 people yesterday must have been a welcome respite. Click the link to read the entire 2014 report.
Eisman's big Canadian bank short
fsim.ca/docs/eisman2.pdf
Mark Sibthorpe
I have been reporting on Steve Eisman's short position for quite some time. As the analyst reaction to Eisman shows (link below), Eisman has taken a lot of heat for shorting Canadian banks. Instead of capitulating, in September 2019 he publicly disclosed the fact that he added Canadian Tire to his position, He explains the rationale for this in a BNN interview late 2019. Essentially, his big concern with respect to banks was non-performing loans in Alberta. He feels Canadian bank CEOs are not prepared for a credit cycle. He specifically referenced ATB (a private bank) in discussing his concerns. Looking at the numbers today, my guess is that he has made off like a bandit.
VersaBank Beta-Testing Its New, High Volume Mortgage Finance App
fsim.ca/docs/VBCortelMortFinanceAppFeb62020.pdf
Press Release
VersaBank announces it is initiating beta-testing on its newly developed high-volume mortgage software app with the Cortel Group, one of Canada’s largest home and condominium builders. The app, named “Direct Connect”, was designed to facilitate and significantly reduce the lengthy finance approval process typically experienced by home buyers when visiting home and condo pre-construction sales offices.
How and why you need to defend your brand against disruptors
Mark Sibthorpe
Technology, and being open to opportunities, has preempted transformation in banking. At the top of change are Mint, PayPal and ApplePay; three examples of transformative solutions that are now ubiquitous. On the horizon: Uber and Google, both having recently announced partner based banking services. Further down in the plumbing is Duca Impact Labs, Versabank, and Revolut. This report shows how cost conscious FIs can, not only stay relevant in the face of adversity, but punch well above their weight. All thanks to creative thinking and the ongoing commoditization of technology.
Kick the can(nomics)
fsim.ca/docs/Kick.pdf
Mark Sibthorpe
Canada has used consumer debt to provide life support to the economy. This strategy which basically pushed the day of reckoning to the next government was old back in 2014, and now is well past its sell-by-date. Recognizing this, and desperate to keep the economy out of a recession, Trudeau is spending more money now than any government in Canadian history. This report disusses a possible alternative.
ScoreCard Bill Morneau, Canada's Minister of Finance
fsim.ca/docs/ScoreCardMorneau.pdf
Mark Sibthorpe
This report is a scorecard I designed in order to rank the performance of the current Minister of Finance, Bill Morneau. I do regular rankings because, otherwise, I cannot measure the performance in a meaningful way. The scoring is based on a variety of metrics as detailed on the ‘score-table’ on page 3. Examples of the criteria and weighting include:
Observations and overview of 2018 NB flood support from government and insurance companies.
fsim.ca/docs/Observations and overview of 2018 NB flood support from government and insurance companies..pdf
Mark Sibthorpe
Flood aftermath is linked to post traumatic stress. Here are some findings from a study conducted by Queensland University following a flood:
"The findings showed that aftermath stress contributed to poor mental health outcomes over and above the flood itself, prior mental health issues and demographic factors," Ms Dixon said.
"Aftermath stress was the strongest predictor of post-traumatic stress symptoms with 75 per cent of people saying the most difficult aspect was the aftermath and dealing with insurance companies," she said.
With this in mind, I felt it was important to understand how New Brunswick flood victims were treated.
Update Argentina: a sign of the times
fsim.ca/docs/Update Argentina_ a sign of the times.pdf
Mark Sibthorpe
Argentina is in the news daily because the situation is dire, and may be an indication of further contagion. The most dramatic story that speaks of the a leading cause of its troubles was the recent arrest of the public works secretary, Jose Lopez. June 15th he was caught hiding millions in cash in a monastery. No this is not a plot for a comedy.
Summary of Canada's flood news, 2017 to present
fsim.ca/docs/Summary-of-flood-news-2017-present.pdf
Mark Sibthorpe
This report covers flood news in Canada from 2017 to present and highlights the relevent issues for home-owners and the insurance industry.
Banking on Pot
fsim.ca/docs/c10191_banking-on-pot.pdf
SBS
As states across the US legalize marijuana for both medicinal and recreational purposes, it has fueled a growing industry of marijuana related businesses (MRBs).
Canadian banking industry overview
Mark Sibthorpe
The industry overview is divided into 5 parts:
Introduction
Small banks
Small medium sized banks
Medium sized banks
Medium large banks
2014 Mobile payments the Apple pay way
fsim.ca/docs/Mobile_Payments_Apple_Pay_2014.pdf
Mark Sibthorpe
With Walmart Pay about to userp Apple Pay, I thought I would share my 2014 book on mobile payments and loyalty. The guilde was written for Merchants that want to understand loyalty, credit, mobile payments and Apple Pay, but anyone involved with credit and loyalty might find it useful.
The book is a prelude to Walmart leaving MCX, and chronicles the evolution that led to Walmart Pay. There is an extensive case study of Walmart that looks into its efforts to become an ILC and to avoid paying credit card transaction fees ('merchant discount').
It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and industry facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives.
Death to bitcoin, long live the blockchain (See full report)
Mark Sibthorpe
Jamie Dimon calls bitcoin a fraud used by criminals, yet he has jumped into the blockchain with both feet.
TD bank industry conduct
fsim.ca/docs/tdind2.pdf
Mark Sibthorpe
TD’s share price recently collapsed by $7 bn in one day due to CBC’s allegations of aggressive selling tactics. A huge fall from a bank that was trading at a premium as recently as January. This was even before the most recent allegation of TD attempting to avoid paying taxes on advertising.
This report chronicles the events leading up to the collapse, shows TD's performance, analyses other related issues.
Book review: Back from the Brink
fsim.ca/docs/backbrink.pdf
Mark Sibthorpe
This is a book review of the book Back from the Brink by Paul Halpern, Caroline Cakebread, Christopher C. Nicholls and Poonam Puri.
Footnote 151
fsim.ca/docs/footnote151.pdf
Mark Sibthorpe
Footnote 151 implies an important regulatory change related to derivative contracts. It means that US Banks will not be required to hold as much capital against commodities. If you want to understand the implications of this regulatory change in more detail, see the enclosed related article detailing the changes. For contextual purposes, I have also included two Rolling Stones Magazines reports from 2010 and 2014 that chronicle the role large US banks have played in manipulating commodities. You might question the credibility of these sources, but rest assured, these reports are based on United States Senate hearings which outline the issues in a 396 page report related to the implied risks.
Save the Canadian economy now
fsim.ca/docs/helecopter-money.pdf
Mark Sibthorpe
Consumer debt spending appears to have insulated Canada from the worst of the credit crisis, but now the alarming magnitude of consumer debt ($1.92-trillion) could exacerbate a day of reckoning.
This report assesses the issues at hand and recommends the solution to get Canada's economy on track.
Reasons financial service companies should consider gamification
fsim.ca/docs/GamingEventProposal-printsample--en-final.pdf
Mark Sibthorpe
Gamification of business processes resulted on Mint.com growing to 10 million users within 4 years. This report explains how.
National Bank Special Report
fsim.ca/docs/NatBSpec.pdf
Mark Sibthorpe
According to Bloomberg, National Bank of Canada will take a C$64 million ($48 million) restructuring charge in the fourth quarter and said its investment in Maple Financial Group Inc., which is being probed by German regulators, may be at risk of a “substantial loss.”
Will Canadian banks charge companies for deposits?
fsim.ca/docs/depgrowthimpact2.pdf
Mark Sibthorpe
In light of today’s possible rate cut, this report discusses how a bank rate cut and capital ratio pressure could precipitate negative corporate deposit interest rates in Canada.
Canadian Tire's (CTC) - Canadian Tire Financial Services (CTFS) Scotia deal overview and risk assess
fsim.ca/docs/ctfsfinal.pdf
Mark Sibthorpe
Review of the Canadian Tire Financial Services deal with Scotiabank, risks, opportunity and benefits.
Finance minisiter scorecard August 26, 2015
fsim.ca/docs/Scorejo-August-2015.pdf
Mark Sibthorpe
This report looks at Joe Oliver, minister of finance’s progress to date, and assigns a grade to his government’s performance to date.
Xtreme Branch
fsim.ca/docs/xbranch.pdf
Mark Sibthorpe
Branches are evolving to meet the digital age. This documents tracks the evolution with real-world examples.
Canadian Nudge
fsim.ca/docs/nudge.pdf
Mark Sibthorpe
CWB cause for concern
fsim.ca/docs/cwbupdate.pdf
Mark Sibthorpe
BNTV Overview
fsim.ca/docs/overviewpdf.pdf
BNTV
BankNews.TV Publishing Corp services overview document:
- Analytics
- Financial services industry monitor (FSIM) industry briefings and developments reports
- Research
Challenger banks not a threat to big banks
fsim.ca/docs/challenger.pdf
Mark Sibthorpe
This report looks at Canadian challenger banks (apart from merchant led banks) and explains why they have not threatened larger institutions. It also looks at ways in which these upstarts have achieved success.
Gamification of financial data project
fsim.ca/docs/GamingEventProposal-printsample--en-final_original.pdf
Mark Sibthorpe
This document contains details on how BankNews.TV is helping kids learn programming via gamification of financial data.
The impact a rate rise will have for Canadian banks
fsim.ca/docs/irr-f.pdf
Mark Sibthorpe
Canadian banks have made money throughout the credit crisis, but this trend may be about to reverse. The rational supporting this prediction is that revenue has grown despite a declining net interest margin (NIM). It has grown in spite of this fact because Canadian debt (loan lease volume) has risen significantly, as shown in chart 2.
FIFA: the new goldenballs
fsim.ca/docs/goldenballs.pdf
Mark Sibthorpe
Yesterday, the Attorney General of Switzerland (OAG) opened criminal proceedings related to the FIFA scandal. This report outlines some of the events related to the criminal investigation, with a particular focus on banking.
Scorecard Minister of Finance: JIm Flaherty
fsim.ca/docs/Scorecard Min Fin Flaherty April 8 2014.pdf
Mark Sibthorpe
March 18, Finance Minister Jim Flaherty resigned from cabinet after having endured a difficult year due to health issues. This report looks at his legacy and attempts to grade his government’s performance to date.
Merchants extend financial services
fsim.ca/docs/merchantfs.pdf
Mark Sibthorpe
Merchant led financial services are growing in importance once again. This is exemplified in the ongoing UK rivalry between ASDA, Sainsbury and Tesco. Together these merchant/financial service companies provide the backstop for three different approaches for merchants looking to extend their financial services.
Hot Money: real-estate
fsim.ca/docs/hotmoney.pdf
Mark Sibthorpe
Currency Cheat Sheet: a guide for the rest of us
fsim.ca/docs/currencycheatsheet.pdf
Mark Sibthorpe
Riches to Rags? Summary of possible risks for Genworth MI CANADA, INC.
fsim.ca/docs/gq4risk.pdf
Mark Sibthorpe
Genworth had its Q4 2014 earnings call. Genworth own about 30% of the mortgage default insurance in Canada. Not surprisingly, the earnings call became focussed on Alberta; and for good reason, with 20% of its outstanding insured mortgage balance in Alberta, sensitivity to the oil shock and how Genworth plan to manage related risks were discussed in detail.
Canadian Western Bank Competitive Forecast
fsim.ca/docs/cwbf.pdf
Mark Sibthorpe
Based on historical financial data (see detailed charts pages 5-8), the oil based recession in Alberta, and comparison against two of its peers, this document outlines my observation with respect to CWB’s future performances.
Liquid Canada: the tipping point
fsim.ca/docs/Liquid.pdf
Mark Sibthorpe
This report examines liquidity issues in the Canadian financial service industry.
Bank Fees
fsim.ca/docs/Bank fees.pdf
Mark Sibthorpe
Recently the CBC and The Globe and Mail both reported on what has been referred to as a consumer “bank fee outcry”. CBC compares banks to cable and phone companies, standing accused of trying to gouge customers with service fees. The backlash appears to have originated in conjunction with the NDP and the Consumers Council of Canada which argues that there is anxiety ‘among consumers about banking fees’.
Cheap Oil Report
fsim.ca/docs/co2.pdf
Canada's Economy, a strategic solution
fsim.ca/docs/ces.pdf
Mobile Payments Blueprint: guide to credit and loyalty transformation for merchants
fsim.ca/docs/booksample.pdf
Guide to system selection
fsim.ca/docs/gssnow.pdf
Read sample report: Guide to system selection. This sample would normally cost $99 but is available free as a sample. Click here view sample report.
News feed
SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED
G&M (2026-01-28)
âWe are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,â Ms.
SUSTAINABLE FINANCE EXPERTS LAUNCH EFFORT TO BOLSTER TRANSITION PLANS FOR CANADIAN COMPANIES
G&M - Jeffrey Jones (2025-05-13)
Several financial institutions and pension funds are backing a new initiative by some of Canadaâs best-known sustainable-finance experts to bolster companiesâ energy-transition plans as a way to win access to more global capital. The
SHOPIFY SHARES SOAR AHEAD OF DEBUT IN NASDAQ 100
G&M (2025-05-13)
Shopifyâs (SHOP-T) stock surged more than 13 per cent in Monday morning trading after the Nasdaq stock exchange announced the e-commerce company would join its 100 Index on May 19. The
TARIFF UNCERTAINTY SHOULD SLOW CANADA'S COTTAGE MARKET THIS YEAR: REMAX
Yahoo Finance - John MacFarlane (2025-05-13)
âWe are optimistic that recreational activity could pick up later this season, but thereâs a big âbutâ looming,â Kottick said.
HUDSON'S BAY EXPECTED BACK IN COURT TO EXTEND CREDITOR PROTECTION
Yahoo Finance - Tara Deschamps (2025-05-13)
After filing for creditor protection in March because it was having trouble paying 26 pages' worth of landlords, vendors and suppliers almost $1 billion they were collectively owed, Hudson's Bay put itself, its assets and its leases up for sale.
STOCKS SURGE ON U.S.-CHINA TRADE TRUCE, WHILE GOLD PLUMMETS
BNN (2025-05-13)
The big winners on Wall Street were big semiconductor and tech stocks, as well as apparel and travel names that had been hardest-hit in the China-U.
CANADIAN MORTGAGE RATE RENEWAL CLIFF WAS MORE LIKE A CURB
Better Dwelling (2025-05-13)
Canadaâs central bank is just realizing the mortgage rate renewal cliff is much smaller than thought.
CRYPTO SHOULD FACE TRADITIONAL REG PRINCIPLES: SIFMA
Investment Executive - James Langton (2025-05-13)
In a joint submission to the U.S.
THE TROUBLE WITH FINFLUENCERS
Investment Executive - Matthew Taylor (2025-05-13)
In the Floreani case, the ASC found multiple breaches of section 103.1(2)
LOOK OUT — THE GOVERNMENT SEEMS TO BE BANKING ON INCREASED TAX PENALTIES TO HELP PAY FOR ITS SPENDING
FP - Kim Moody (2025-05-13)
Our federal government is addicted to deficit spending and plans to finance some of that spending by betting on Canadians failing to navigate a byzantine tax system it keeps expanding, writes Kim Moody.
WHEN NOT TO TRUST YOUR MORTGAGE LENDER
FP - Robert Mclister (2025-05-13)
According to fresh data from the Financial Services Regulatory Authority of Ontario (FSRAO), nearly half of folks believe banks will treat them fairly â the kind of blind faith usually reserved for seeing-eye dogs and weather apps before a wedding. Meanwhile,
SCOTIABANK SIGNS REFERRAL DEAL WITH ICICI BANK CANADA FOR WEALTH MANAGEMENT SERVICES
G&M (2025-05-13)
ICICI Bank Canada is a full-service direct bank under Canadaâs Bank Act and has been serving its customers in Canada for 20 years.
CARNEY WANTS BIG GOVERNMENT TO GET INTO HOUSING – A MAJOR RISK TO TAXPAYERS
G&M - Jake Fuss (2025-05-13)
A trade war, U.S.
CENTRAL BANKERS RENEW CALL FOR FINAL BASEL III REFORMS
Investment Executive - James Langton (2025-05-13)
Following a meeting on May 12, the regulatorsâ oversight body, known as the Group of Central Bank Governors and Heads of Supervision (GHOS), which is chaired by Bank of Canada governor Tiff Macklem, stressed the importance of fully implementing the capital reforms crafted in the wake of the global financial
CHAMPAGNE RETAINS FINANCE POST IN CARNEY’S NEW CABINET
Investment Executive - Sammy Hudes (2025-05-13)
Champagne maintains his position as minister of finance after taking over the file just ahead of the federal election.
DIGITAL PAYMENTS EVOLUTION: VIRTUAL CARDS POISED TO TAKE OFF
Pymnts (2025-05-13)
"Digital Payments Evolution: Virtual Cards Poised to Take Offâ was produced in collaboration with Elan, and PYMNTS Intelligence is grateful for the companyâs support and insight.
CREDITORS OFFER US CHIPMAKER $600MN REFINANCING TO AVERT BANKRUPTCY
FT - Sujeet Indap (2025-05-13)
Junior creditors of Wolfspeed Inc.,
PRESS CONFERENCE: FINANCIAL STABILITY REPORT—2025
BOC - Tiff Macklem, Carolyn Rogers (2025-05-13)
A stable and efficient financial system is essential for sustaining economic growth and raising standards of living.
TD SAYS TORONTO CONDOS WILL DROP $137,000
Youtube (2025-05-13)
TD Economics just dropped a bold prediction for the Toronto Condo Market: Toronto condo prices could fall another 10% by the end of 2025.
DID CARNEY, THE BANKER, USE HIS BOND-MARKET BLACK MAGIC ON TRUMP?
G&M - John Rapley (2025-05-12)
John Rapley is a contributing columnist for The Globe and Mail.
STAGNATING JOB MARKET 'COULD SOON BUCKLE,' RAISING ODDS OF ANOTHER BOC CUT AS UNEMPLOYMENT JUMPS
Yahoo Finance - John MacFarlane (2025-05-12)
"It doesn't take an archeological dig to realize this is a weak report," writes BMO chief economist Douglas Porter.
CANADA'S UNICORN PROBLEM: NEW STUDY EXPLORES WHY OUR BEST STARTUPS FAIL TO TAKE FLIGHT
Yahoo Finance - Yvonne Lau (2025-05-12)
âWe must be doing something seriously wrong (if Canada has only had) only two successful IPOs and one failed one,â Plant wrote in his report, warning of a chilling effect if capital providers fear they wonât eventually be able to get their money out.
THIS CANADIAN BANK PAYS 4.75% AND COULD DOUBLE YOUR MONEY BY 2030
Yahoo Finance - Christopher Liew (2025-05-12)
As of this writing, only Toronto-Dominion Bank (TSX:TD) out of the Big Six Canadian bank stocks has bucked the tariff chaos.
U.S. AND CHINA TAKE A STEP BACK FROM SKY-HIGH TARIFFS, AGREE TO PAUSE FOR 90 DAYS
BNN (2025-05-12)
âThe consensus from both delegations this weekend is neither side wants a decoupling,â Bessent said.
SUN LIFE BEATS ESTIMATES ON STRONG ASSET MANAGEMENT, U.S. RESULTS
BNN (2025-05-12)
The Toronto-based insurance firm reported underlying earnings of $1.82
BOE’S LOMBARDELLI VOTED TO CUT RATES AS ‘INSURANCE’ AGAINST TRADE WARS
Bloomberg - Clare Lombardelli (2025-05-12)
Bank of England Deputy Governor Clare Lombardelli said growth in UK wages and services prices is still too high to be consistent with bringing inflation back to the 2% target but she voted to cut interest rates last week to provide âinsuranceâ against the risk of an economic slowdown caused
WHY BANKS MAY NOT BE YOUR SMALL BUSINESS’S BEST BET FOR FINANCE
Forbes - David Prosser (2025-05-12)
Looking for finance for your small business? Donât assume your local bank is the place to find it.
MORE THAN 4 IN 10 US CONSUMERS NOW USE VIRTUAL CARDS AT CHECKOUT
Pymnts (2025-05-12)
See attached for doc.
BOC OFFICIALS DISCUSS LATEST FINANCIAL STABILITY REPORT
BNN (2025-05-09)
Bank of Canada governor Tiff Macklem and senior deputy governor Carolyn Rogers discuss the latest financial stability report released today.
POWELL GETS SUPPORT FROM BANK OF CANADA’S MACKLEM AMID TRUMP ATTACKS
Bloomberg (2025-05-09)
Bank of Canada Governor Tiff Macklem offered support to Federal Reserve Chair Jerome Powell from US President Donald Trumpâs attacks, as the Canadian policymaker called the independence of central banks âsacrosanct.â âThe
CANADIAN REAL ESTATE SLUMP DEEPENS: RBC WARNS NO REBOUND IN SIGHT
Better Dwelling (2025-05-09)
RBCâs grim outlook for Canadian real estate is the exact opposite of what experts saw in 2025.
PAY DAY BANKING OUTAGES HIT 1.2M PEOPLE, BANKS REVEAL
BBC - Graham Fraser (2025-05-09)
The letters from the banks revealed about 250,000 TSB customers, 196,255 from Nationwide and 60,000 from HSBC also faced disruption on that morning.
BANK LOWERS INTEREST RATES AND HINTS AT MORE CUTS TO COME
BBC - Michael Race & Faisal Islam (2025-05-09)
The minutes of the Bank's meeting showed the rate-setting committee was divided.
THE REAL-TIME RAIL BUILD IS ON TRACK FOR COMPLETION IN Q3 2025
Payments Canada (2025-05-09)
âThe system build is on track to be finished in Q3 2025, which is a huge accomplishment for the programâ said Pinto.
VOTING PERIOD ANNOUNCED FOR CONEXUS, CORNERSTONE, AND SYNERGY CREDIT UNIONS RECOMMENDED MERGER
Synergy (2025-05-09)
Credit union members can register for the Special Meeting by visiting their respective credit union website.
JOIN US AT THE 2025 CANADIAN FINANCE SUMMIT
financeevents.ca (2025-05-09)
Join over 600 banks, credit unions and fintechs.
US AND UK TO ANNOUNCE DEAL TO REDUCE TARIFFS TODAY
BBC (2025-05-08)
Last night, US President Donald Trump said there would be a "big" news conference at 10:00 (15:00 BST) to announce a "major trade deal" with a "highly respected country"
MARK CARNEY’S BET ON PREFABRICATED HOMES HAS PROMISE – AND BIG RISKS
G&M - Erica Alini (2025-05-08)
Prime Minister Mark Carney has pledged billions of dollars in financing for makers of prefabricated homes to help end the countryâs housing shortage.
FINANCIAL CRIMES EXPERT STUART DAVIS DEPARTS TD AS CONTRACT COMES TO AN END
G&M - Alexandra Posadzki (2025-05-08)
Stuart Davis, a financial crimes expert who advised Toronto-Dominion Bank as it worked to strengthen its anti-money-laundering controls amid U.S.
'ECONOMIC CASUALTIES' WILL MOUNT IN CANADA AND U.S., PUSHING BOC TO THREE MORE RATE CUTS THIS YEAR: BMO
G&M (2025-05-08)
Although inflation may rise in the U.S.,
CANADA BANKS KEEP CLIMATE PLEDGES AS RIVAL RBC DROPS TARGETS
BNN (2025-05-08)
âCompanies are free to make environmental claims, as long as they are not false or misleading, and have been adequately and properly tested or substantiated as required,â Blondin said, noting that the bureau is now finalizing its guidelines.
WHY SWISS WANT UBS TO HOLD MORE CAPITAL AND BANK IS PUSHING BACK
Bloomberg (2025-05-08)
A UBS Group AG bank branch in Zurich.Photographer:
NORWAY KEEPS RATE AT 16-YEAR HIGH WITH PLEDGE OF CUTS TO COME
Bloomberg (2025-05-08)
Norwayâs central bank kept borrowing costs steady for its 11th consecutive meeting, and reiterated its plan to begin easing later this year. Norges
BMO FACES MX FRONT RUNNING ALLEGATION
Investment Executive - James Langton (2025-05-08)
Among other things, the complaint alleges that the firm violated then rules against front running on two dates in 2019, March 19 and May 31, âas it took advantage of a customerâs order by trading ahead of it.â
EMBEDDED FINANCE UNLOCKS VALUE FOR UNDERSERVED SMALL BUSINESS SECTORS
Pymnts (2025-05-08)
No matter the vertical in which a company is engaged, a few fundamentals apply.
FINANCIAL REGULATORS FACE DEEPEST PERSONNEL CUTS IN DECADES
Pymnts (2025-05-08)
The layoffs are the sharpest in decades, and the financial regulators affected are responsible for overseeing banks, trading houses and the public markets, according to the report.
WHY WELLS FARGO IS BUYING $40 BILLION OF ITS OWN STOCK
RT.com - Gabriel Osoria-Mazilli (2025-05-08)
With this in mind, investors could take the behavior as a sign of renewed confidence in the consumer credit space today, which might help create tailwinds for stocks exposed to consumer trends and confidence.
FIERA CAPITAL ANNOUNCES NEW CEO AS COMPANY OVERHAULS EXECUTIVE LEADERSHIP
G&M - Clare O'Hara (2025-05-08)
Fiera Capital Corp.
CANADA INFRASTRUCTURE BANK TOPS $1B IN INVESTMENTS IN INDIGENOUS-LED PROJECTS
G&M - Jeffrey Jones (2025-05-08)
The Canada Infrastructure Bank has surpassed $1-billion in funding for Indigenous projects and equity interests, and is now planning for more as the country contemplates the concept of energy corridors to bolster sovereignty, its chief executive officer says. Ottawaâs
A BIG BANK IS ABOUT TO DEVOUR A SPUNKY UPSTART WITH GREAT RATES FOR SAVERS
G&M - Rob Carrick (2025-05-08)
From April, 2023, through to the middle of last July, me and other clients of the alternative bank Motive Financial made a cool 4.1
DIVERSIFICATION WILL HELP MANULIFE STEER THROUGH GLOBAL ECONOMIC UNCERTAINTY, CEO SAYS
G&M - Clare O'Hara (2025-05-08)
The company reported a slight increase in its first-quarter âcore earningsâ of $1.76-billion
CHINA’S CENTRAL BANK CUTS KEY INTEREST RATE AS U.S. TARIFFS THREATEN ECONOMY
G&M (2025-05-07)
Chinaâs central bank has cut a key interest rate as U.S.
IS OTTAWA’S ANTI-GREENWASHING LAW HELPING OR HURTING CANADIAN COMPANIES?
G&M - Jeffrey Jones (2025-05-07)
Federal legislation aimed at combatting greenwashing has prompted companies to delete all kinds of public messaging, raising questions about whether the new rules are doing what they were intended to do or actually hindering environmental progress. Last
TRUMP, CARNEY FACEOFF IN OVAL OFFICE LEAVES GAPING DIFFERENCES ON TARIFFS, 51ST STATE
Yahoo Finance - Rob Gillies And Josh Boak (2025-05-07)
Shortly before Carney's arrival, Trump insulted Canada by posting on social media that the United States didn't need âANYTHINGâ from its northern neighbor, only to then turn on the charm and praise Carney's election win in person before showing his obstinance on matters of policy substance.
AUSTRALIAN REGULATOR LAUNCHES FURTHER CRACKDOWN ON MACQUARIE BANK AFTER COMPLIANCE FAILURES
Yahoo Finance (2025-05-07)
"Our intervention underscores our concern with the recurrent nature of Macquarie's failures, which were caused by ineffective supervision and weak compliance and control management," the ASIC Commissioner Simone Constant said.
GOLD TUMBLES AS US-CHINA TRADE TALK OPTIMISM SAPS HAVEN DEMAND
Yahoo Finance (2025-05-07)
Bullion fell as much as 1.6%
THE GENERATIONAL SQUEEZE OF DEFICITS
BNN (2025-05-07)
Amanda Lang discusses how the federal governmentâs approach to deficits results in generational inequities, with Paul Kershaw, founder of Generation Squeeze.
PRE-TARIFF CAR BUYING FRENZY LEAVES AMERICANS WITH A BIG DEBT PROBLEM
Bloomberg (2025-05-07)
Consumers who raced to replace their vehicles because of Trumpâs trade policies risk a costly financial hangover that could last years. Bliss
TORONTO REAL ESTATE PRICES FALL BELOW $1M, SALES AT 90S CRASH LEVELS
Better Dwelling (2025-05-07)
Driving the price declines was the collapse of sales.
DELINQUENCIES SPIKE AS FINANCIAL PRESSURES RISE
Investment Executive (2025-05-07)
Average non-mortgage debt rose by 3.8%
RETHINKING GOLD AS A KEY ASSET CLASS
Investment Executive - Michael Naire (2025-05-07)
Despite its unique positive attributes, gold also has significant weaknesses.
MEDIOBANCA HITS BACK IN ITALY'S BANK M&A WAR WITH $7 BLN BANCA GENERALI BID
Reuters (2025-05-07)
Mediobanca, opens new tab on Monday struck back in the takeover war gripping Italian finance with a 6.3
CREDIT SUISSE TO PAY $511MN OVER HELPING AMERICANS HIDE MORE THAN $4BN
FT (2025-05-07)
Credit Suisse agreed to pay $511mn and plead guilty to helping American taxpayers hide more than $4bn from authorities under an agreement with the US Department of Justice, admitting it violated a deal struck a decade ago for similar reasons. UBS,
CANADA POST WORKERS COULD STRIKE AGAIN SOON. HERE'S WHY
CBC - Abby Hughes (2025-05-06)
Since December, the two sides have had a few meetings to try and reach a deal.
HOW CAN CANADA CREDIBLY TAKE ON TRUMP WHEN WE, TOO, BREAK GLOBAL TRADE RULES?
G&M - Matias Margulis and Kristen Hopewell (2025-05-06)
Since President Donald Trump took office, the United States has arbitrarily imposed tariffs on all of its major trading partners, in blatant violation of global trade rules.
CAN THIS BANK CEO UNITE CANADA?
G&M - John Turley-Ewart (2025-05-06)
Can anyone bridge Canadaâs economic solitudes, Alberta and Quebec? It is the toughest of challenges, finding common ground between one politically conservative, anglophone province committed to conventional energy sources and another, politically progressive, francophone province that is a proponent of renewables. The
CANADIAN INVESTORS DON’T TRUST FINFLUENCERS, UNTIL THEY FIND ONE THEY REALLY LIKE
G&M - Preet Banerjee (2025-05-06)
We tell ourselves weâd never trust a finfluencer.
BLACKROCK, CITI CEOS TO VISIT SAUDI ARABIA ALONG WITH TRUMP
Yahoo Finance - Christine Burke (2025-05-06)
Trump, whoâs also going to Qatar and the United Arab Emirates on his first scheduled trip abroad since returning to power, is keen for the oil- and gas-rich Gulf states to ramp up investments in the US and buy more of its goods.
WHY SCRUTINY OF MARK CARNEY'S BROOKFIELD TIES ISN'T GOING AWAY ANY TIME SOON
Yahoo Finance - Barbara Shecter (2025-05-06)
If Brookfield, which owns businesses ranging from pipelines and other infrastructure to real estate and mortgage insurance, winds up vying for the new public-private investments alongside Canadaâs largest pension funds, conflict of interest safeguards are likely to return to the spotlight.
FAIRFAX FINANCIAL SIGNS LETTER OF INTENT TO BUY KEG ROYALTIES INCOME FUND
BNN (2025-05-06)
The fund noted the letter of intent is not a definitive agreement, which remains subject to, among other things, a formal valuation and fairness opinion, various regulatory, court and stock exchange approvals, and approval at a special meeting of the unitholders.
FED’S POWELL IS ABOUT TO DEFY TRUMP AND HOLD RATES STEADY
BNN (2025-05-06)
Caught in that bind, Fed Chair Jerome Powell may have been comforted by government data on Friday showing a healthy 177,000 jump in April payrolls.
PRESS CONFERENCE: MONETARY POLICY REPORT – APRIL 2025
BOC - Tiff Mecklem, Carolyn Rogers (2025-05-06)
Press conference by Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers (10:30 (ET) approx.).
CANADIAN HOMEBUILDING FACES BIG CHALLENGES DESPITE CURRENT RAPID PACE
Canadian Mortgage Trends - Jonalyn Cueto (2025-05-06)
Canadaâs homebuilding industry reached a historic milestone last year with a record 260,000 completed housing units, Hogue noted in a new report, with that achievement narrowly surpassing the previous record of 257,000 units set five decades ago in 1974.
GAMBLING ON AI COULD BECOME INSURANCE'S BIGGEST LIABILITY, SAYS INSURANCE TECH EXPERT
Insurance Business Mag - Chris Davis (2025-05-06)
This paradox is already reshaping underwriting conversations in data-heavy lines like healthcare and cyber, where AI can both optimize and undermine.
THE KING WARREN BUFFETT IS RETIRING. LONG LIVE GREG ABEL, HIS CANADIAN SUCCESSOR
G&M - Chris Gay (2025-05-05)
In the high-pressure realm of Hard Acts to Follow, Greg Abel, an unassuming Canadian, is now centre stage in the world of investing.
TRUMP’S MEETING WITH CARNEY TO UNFOLD AGAINST A BACKDROP OF RENEWED 51ST-STATE RHETORIC
G&M - Stephen Chase, Adrian Morrow (2025-05-05)
U.S.
VANCOUVER HOME SALES CONTINUE FALLING IN APRIL AMID TRADE WAR: BOARD
Yahoo Finance (2025-05-05)
There were 6,850 newly listed properties on the market, a 3.4
OIL PRICES FALL AND WORLD SHARE PRICES ARE MIXED IN THIN HOLIDAY TRADING ON MONDAY
BNN (2025-05-05)
During the weekend, the OPEC+ group of eight nations announced it will raise its output by 411,000 barrels per day as of June 1, stepping up production increases.
FLORIDA HOME PRICES POST BIGGEST DECLINE IN AT LEAST 13 YEARS
Bloomberg (2025-05-05)
Floridaâs housing boom has now shifted into reverse, with prices sliding by the most in at least 13 years. The
BILLIONAIRES AND CEOS GATHER FOR MILKEN IN A REELING LA
Bloomberg - John Gittelsohn and Maxwell Adler (2025-05-05)
This weekâs Milken Institute Global Conference represents one of the greatest concentrations of investment capital on the planet, highlighting the power and prestige of the Los Angeles area. With
U.S. EMPLOYERS ADDED A SURPRISING 177,000 JOBS IN APRIL
Investment Executive - Christopher Rugaber (2025-05-05)
Fridayâs report showed employment, one of the strongest aspects of the U.S.
CANADIAN PENSION FUNDS LIMP THROUGH Q1
Investment Executive - Kevin Press (2025-05-05)
âFear and uncertainty cascaded across financial and currency markets during the first quarter, dampening the sentiment of market participants across the globe,â said Northern Trust Canada CEO Katie Pries.
UNCERTAINTY WEIGHS ON LEVERAGED FINANCE: FITCH
Investment Executive - James Langton (2025-05-05)
âMacro pressures from higher-for-longer interest rates, combined with various factors such as weakening demand for consumer discretionary products or services contributed to the March issuer defaults.
GOLDMAN SACHS REMOVES MENTIONS OF ‘BLACK’ FROM FLAGSHIP DIVERSITY PLEDGE
WSJ - Annamaria Androitis (2025-05-05)
Goldman Sachs GS 2.22%increase;
CREDIT-CARD COMPANIES BRACE FOR A DOWNTURN
WSJ - Imani Moise (2025-05-05)
The largest credit-card companies are preparing for the economy to get worse. An
REVOLUT AND OTHER FINTECHS MAKING PUSH INTO TELECOM SECTOR
Pymnts (2025-05-05)
âIn 2024, Revolut became one of the first U.K.
THIS WEEK IN AI: VISA, MASTERCARD AND PAYPAL GO ALL IN ON AGENTIC COMMERCE
Pymnts (2025-05-05)
Called âVisa Intelligent Commerce,â the program opens the networkâs rails to developers building AI agents that search, recommend and make payments using special cards that link back to the userâs original card.
HERE’S WHAT IS DRIVING THE RAPID REVERSAL OF THE HISTORIC MARKET SELLOFF
WSJ (2025-05-01)
Markets have staged a major rebound since President Trumpâs trade war sent stocks reeling in early April. The
TIME FOR LENDERS TO INSIST ON MORE PROTECTION IN FINANCE DEALS
FT - Sabrina Fox (2025-05-01)
But a window of opportunity might be opening for lenders and investors to seek greater protection in the deals they strike.
THE RISE OF THE AI INVESTMENT BANKER
FT (2025-05-01)
Stengel said heâd spend days as an analyst at Lazard triangulating research reports and filings with the Securities and Exchange Commission to calculate a âpeak salesâ valuation ratio.
ROGO RAISES $50 MILLION TO DEVELOP AI-POWERED INVESTMENT BANKER
Pymnts (2025-05-01)
Tech startup Rogo raised $50 million to build an artificial intelligence-powered Wall Street analyst. The
HOW AI IS GROWING FAST ON WALL STREET
Forbes - Jack Kelly (2025-05-01)
Four years ago, I wrote about how tech evangelist, former Goldman Sachs CFO and current partner and vice chairman at Sixth Street Marty Chavez predicted that it will be as important for traders to know how to code as "writing an English sentence." At
BOE WATCHDOG TELLS BANKS AND INSURERS TO FIX CLIMATE RISK ‘GAPS’
FT (2025-05-01)
Banks and insurers have âgapsâ in how they address climate change risks, such as flooding and extreme weather, the Bank of England has warned, but fixing them will hamper lending to some households and companies. The
INVESTORS WANT ADVICE IN A VOLATILE MARKET. ‘FINFLUENCERS’ ARE TRYING TO FILL THE GAP
G&M - Meera Raman (2025-05-01)
Matt Shoss, a 21-year-old Western University student, lost about $13,000 in his investment portfolio at the beginning of April.
WHEN EXACTLY DID CANADIAN HOUSING BECOME SO UNAFFORDABLE – AND WHO’S TO BLAME?
G&M - Hanif Bayat (2025-05-01)
Who or what is responsible for Canadaâs unaffordable housing? Frequently cited factors include restrictive zoning, rapid population growth, permit delays, high development fees, slow wage growth and monetary policy. To
INSURER GREAT-WEST LIFECO ANNOUNCES DAVID HARNEY AS NEW CEO
G&M - Clare O'Hara (2025-05-01)
Great West Life Co.âs
THREE VPS TO LEAVE TD BANK'S ANTI-MONEY LAUNDERING TEAM AS NEW CHIEF MAKES CHANGES
Yahoo Finance - Nivedita Balu (2025-05-01)
"This effort is guided by the need to enhance clarity in decision-making, redefine team mandates, and drive greater consistency across the broader team," she said in the memo sent on Thursday, highlighting other internal changes.
AUSTRALIA'S BANKS FACE CRITICAL EARNINGS TEST AMID ECONOMIC, POLITICAL CROSSCURRENTS
Yahoo Finance (2025-05-01)
Bank shares, which initially underperformed after the rate cut due to frothy valuations and disappointing earnings, rebounded following U.S.
REAL ESTATE ONE YEAR AFTER B.C.’S SHORT-TERM RENTAL CRACKDOWN, HAS IT MADE HOUSING CHEAPER?
BNN (2025-05-01)
âAll my colleagues have stories from their communities of people that are moving into what used to be a short-term rental and is now available for families long term,â the minister said in an interview earlier this month.
CANADIAN GDP CONTRACTS, REAL ESTATE POSTS LARGEST DROP SINCE 2022
Better Dwelling (2025-05-01)
The real estate and rental leasing sector, which weâre going to call REARLS from now on, provided the fourth largest downward pressure.
CANADIAN PENSION FUNDS LIMP THROUGH Q1
Investment Executive - Kevin Press (2025-05-01)
DB plans served by RBC earned 1.2%
CANADIAN DIRECT INVESTMENT ABROAD REACHED $2.5 TRILLION LAST YEAR: STATCAN
Investment Executive - Jonathan Got (2025-05-01)
Canadian direct investment is still heavily weighted in the U.S.,
FED SHOULD DITCH CURRENT POLICY FRAMEWORK, GROUP OF FORMER TOP CENTRAL BANKERS SAYS
Reuters (2025-05-01)
"The Federal Reserve's monetary policy tools are ill-suited to ensuring that employment will necessarily be broad-based and inclusive when the economy is at full employment," the group said in a report issued by the G30, a private organization of former top central bank and finance officials.
KKR LOOKS TO DEPLOY $116 BILLION CASH IN CHOPPY MARKET AFTER PROFIT BOOST
Reuters - Niket Nishant (2025-05-01)
Investment giant KKR (KKR.N),
OVER $2.4 BILLION IN MORTGAGE VOLUME: HOW FINMO SUPERCHARGED BRX MORTGAGE
Mortgage Broker News - Emily Douglas (2025-05-01)
âWe grew quickly, to doing thousands of deals in a short span of time,â says Scott Peckford, founder of BRX Mortgage.
ONTARIO AND QUEBEC ICE STORM CAUSES $342 MILLION IN INSURED DAMAGE
IBC (2025-05-01)
A severe ice storm that hit parts of Ontario and Quebec one month ago caused $342 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc.
COUCHE-TARD WINS ACCESS TO 7-ELEVEN OWNER’S CONFIDENTIAL FINANCIAL DATA
G&M - Nicolas Van Praet (2025-04-30)
Alimentation Couche-Tard Inc.
FIRST THING WE DO AFTER THE ELECTION, LET’S KILL THE BANKERS’ COZY LITTLE OLIGOPOLY
G&M - Andrew Spence (2025-04-30)
Canada has one of the most uncompetitive banking systems in the industrialized world.
METLIFE FIRST-QUARTER PROFIT RISES ON STRONG INVESTMENT GAINS; LAUNCHES $3 BILLION BUYBACK
Yahoo Finance (2025-04-30)
MetLife unveiled a new five-year plan at its investor day in December 2024 to prioritize four areas of its existing business looking forward, including growing its unit that offers group benefits insurance to employers as well as its international business in Latin America and Asia.
PRUDENTIAL FINANCIAL PROFIT RISES ON US BUSINESS STRENGTH
Yahoo Finance (2025-04-30)
Market uncertainty sparked by U.S.
WALL STREET STORMS BACK FROM EARLY LOSSES, ECHOING ITS MANIC MOVES THROUGH A HISTORIC APRIL
BNN (2025-04-30)
âEven if todayâs weak GDP may have partially reflected companies trying to get ahead of tariffs, it was still a stagflation warning shot over the bow of the economy,â according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management.
WHY CRACKS IN THE AMERICAN CONSUMER ARE SPREADING
Bloomberg (2025-04-30)
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe.
CANADA’S YOUNG WORKERS ARE FLEEING EVERY PROVINCE BUT ALBERTA
Better Dwelling (2025-04-30)
Most policymakers ignore this number since they view people as generally replaceable via immigration.
APPLE VIOLATED ANTITRUST RULING, JUDGE FINDS
WSJ - Rolf Winkler (2025-04-30)
A federal judge hammered Apple AAPL 0.61%increase;
News feed
SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED
G&M (2026-01-28)
âWe are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,â Ms.
SUSTAINABLE FINANCE EXPERTS LAUNCH EFFORT TO BOLSTER TRANSITION PLANS FOR CANADIAN COMPANIES
G&M - Jeffrey Jones (2025-05-13)
Several financial institutions and pension funds are backing a new initiative by some of Canadaâs best-known sustainable-finance experts to bolster companiesâ energy-transition plans as a way to win access to more global capital. The
SHOPIFY SHARES SOAR AHEAD OF DEBUT IN NASDAQ 100
G&M (2025-05-13)
Shopifyâs (SHOP-T) stock surged more than 13 per cent in Monday morning trading after the Nasdaq stock exchange announced the e-commerce company would join its 100 Index on May 19. The
TARIFF UNCERTAINTY SHOULD SLOW CANADA'S COTTAGE MARKET THIS YEAR: REMAX
Yahoo Finance - John MacFarlane (2025-05-13)
âWe are optimistic that recreational activity could pick up later this season, but thereâs a big âbutâ looming,â Kottick said.
News feed
FSIM briefings and developments reports
TD SAYS TORONTO CONDOS WILL DROP $137,000
TD Economics just dropped a bold prediction for the Toronto Condo Market: Toronto condo prices could fall another 10% by the end of 2025. But are these predictions supported by real facts and backed by real estate data? In this episode, I go beyond the headline and break down what that really means. I analyzed the report, dig more into the months of inventory, and compared it to historical price trends going all the way back to 2019. Spoiler Alert: The real estate data tells a deeper story than TD’s forecast.
PRESS CONFERENCE: FINANCIAL STABILITY REPORT—2025
A stable and efficient financial system is essential for sustaining economic growth and raising standards of living. In the Financial Stability Report, the Bank of Canada assesses the resilience of the Canadian financial system and focuses on key risks that could undermine its stability. Ultimately, financial stability benefits all Canadians.
CREDITORS OFFER US CHIPMAKER $600MN REFINANCING TO AVERT BANKRUPTCY
Junior creditors of Wolfspeed Inc., a strategically sensitive US chipmaker, have offered rescue financing to the struggling company to pre-empt a potential bankruptcy filing. A group of hedge funds and other investors sent a proposal on Sunday that would provide Wolfspeed roughly $600mn to refinance a large convertible bond coming due in 2026, as well as fund fresh working capital. The offer comes after Wolfspeed, which manufactures silicon carbide wafers for electric vehicles and other energy applications, announced last Thursday it was considering a bankruptcy filing after negotiations to restructure the bond reached an impasse. The stand-off pits some of Wall Street’s savviest financiers against one another as they seek to profit from a distressed company that is at the centre of US efforts to promote domestic production of a crucial technology. Wolfspeed currently shoulders $6.5bn in total debt including a $1.5bn senior secured loan held by a group led by Apollo Global Management. The senior lender group controls the ability for Wolfspeed to sell any additional secured debt. The convertible bond holders, which include Balyasny Asset Management and Shaolin Capital Management, are concerned the company may choose the bankruptcy option too quickly when it holds a large cash buffer. A bankruptcy could give Apollo and its co-investors an advantage in a court-supervised recapitalisation that could leave heavy losses for the junior creditors. An Apollo representative declined to comment. Adding to the conflict, Renesas Electronics, a Wolfspeed customer, extended a $2bn unsecured loan to the company as a deposit on future product purchases. The company reached a deal with the Biden administration last fall to secure $750mn from the Chips Act, but it has yet to receive the funding after the change in administration. Its market capitalisation has fallen from $4bn in 2024 to just $500mn now. Wolfspeed has touted its US-based manufacturing operations against competitors who are based in China. It had been borrowing and spending heavily on manufacturing capability in recent years with the expectation that revenue, driven by growing EV sales, will soon jump to over $800mn annually, a level it has said is enough to put the company as cash flow positive. But weak sales to date, in part due to moderating EV popularity, has left it vulnerable to its heavy debt load. Its executives described the business as soon reaching an “inflection point”. They said Wolfspeed had $1.3bn in existing “cash and liquidity” and that it “continue[d] to maintain a constructive dialogue with the Trump administration in the chips programme office regarding federal funding.”