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Source: Financialpost March 08, 2024

Mortgage rates trending downward even after Bank of Canada snoozefest

Robert McLister: Three-year fixed mortgages are where it's at for savvy homeowners looking to maintain flexibilityThe lowest nationally advertised fixed rates fell again this week, right in time for the bustling spring housing market. We apologize, bu...

Economy Source: Financialpost March 08, 2024

Trudeau's spring budget has companies worried about new taxes

Corporate tax hike may be needed to keep deficit growth in check amid new government spendingFinance Minister Chrystia Freeland’s upcoming budget has some in Canada’s business community concerned there will be tax increases to offset new government spending....

Source: BNN Bloomberg March 07, 2024

Markets today: U.S. stocks and bonds rise as Powell sticks to script

Wall Street traders breathed a sigh of relief, with Jerome Powell once again signaling that while a strong economy will keep officials on hold for now, he expects the Federal Reserve to cut rates this year. Stocks and bonds rose as investors took his remar...

Source: BNN Bloomberg March 07, 2024

Canada's top pension funds pressured by CEOs to invest more at home in open letter

Almost 100 top Canadian business leaders have signed an open letter to Finance Minister Chrystia Freeland and her provincial counterparts, urging them to change investment rules for pension funds to “encourage them to invest in Canada.”  The letter, publis...

Market Call Source: BNN Bloomberg March 07, 2024

Paul Harris' Top Picks: March 6, 2024

Paul Harris, partner and portfolio manager, Harris Douglas Asset Management FOCUS: North American and global stocks  MARKET OUTLOOK: We think that central banks should maintain higher rates until inflation is in line with the target of two per cent...

Source: Financialpost March 07, 2024

TC Energy confirms layoffs, latest among other Canadian energy giants to cut jobs

Eliminates undisclosed number of positions, mostly in Calgary and HoustonCALGARY — TC Energy Corp. has cut an unspecified number of jobs, primarily in Calgary and Houston, the pipeline company confirmed Wednesday. We apologize, but this video has fail...

Source: Financialpost March 07, 2024

Bank of Canada holds interest rate at 5% for fifth straight meeting

Rates unlikely to come down as fast as they went up, says governor Get the latest from Barbara Shecter straight to your inbox Sign Up The Bank of Canada held its key overnight interest rate at five per cent Wednesday, with governor Tiff Macklem declar...

Source: Financialpost March 07, 2024

'All but rules out a cut in April': What economists say about the Bank of Canada's hold

Central bank's statement strengthens view that first interest rate cut will come in JuneThe Bank of Canada held its benchmark lending rate at five per cent on Wednesday and gave little away in its official statement for when it might be ready to start cuttin...

Source: BNN Bloomberg March 06, 2024

Markets today: tech giants drag down U.S. stocks after torrid rally

Stocks came under pressure as a trio of tech heavyweights slid, with traders wading through mixed economic data in the run-up to Jerome Powell’s testimony to Congress. Equities lost traction after a rally that has spurred concern about sky-high valuations...

Source: BNN Bloomberg March 06, 2024

Bitcoin’s market value touches record as token’s price nears all-time high

Bitcoin’s price is in sight of an all-time high and the crypto faithful are on tenterhooks waiting for a never-before-seen level. But in market value terms the token already touched a record. The market capitalization of Bitcoin reached US$1.35 trillion, s...