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The Bank of Canada warned that a severe and long-lasting global trade war may cause more mortgage borrowers to fall behind on their payments — even beyond levels reached in the global financial crisis. www.bloomberg.com/news/article...

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Quebec’s finance minister Eric Girard told Bloomberg he predicts an economic slowdown for Canada in the second quarter and recession later in the year if the countries can’t come to an agreement. “Why don’t we resolve all this?” www.bloomberg.com/news/article...

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Finance minister Eric Girard told Bloomberg News that, despite Quebec’s credit downgrade, there is still important demand for the province’s bond issues. “We’ve seen no movement in spreads. Zero basis point.”

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The Canadian dollar swings as the election results come in.

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Economists at one of Canada’s biggest lenders are raising doubts about the fiscal plans offered by the leading parties in the country’s election, @erikhertzberg.bsky.social and Mario Baker Ramirez report. www.bloomberg.com/news/article...

submitted 19 days ago • 0 comments

1/ La décote du Québec n'a pas d'effet sur les coûts d'emprunt dans l'immédiat. Aujourd'hui, des obligations venant à échéance en 2034 ont été vendues à un prix moins élevé que la semaine dernière et des autres semaines avant. Données compilées par Bloomberg :

submitted 20 days ago • 1 comment

1:33 pm: GOLDMAN SACHS SAYS 65% CHANCE OF US RECESSION IN NEXT 12 MONTHS 2:38 PM: GOLDMAN SACHS RESCINDS RECESSION CALL AFTER TRUMP TARIFF PAUSE

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US hits Canada lumber with 34% duties even before Trump tariffs. “At today’s prices, it’s an unequivocal dead end,” said Frederic Verreault of Les Chantiers de Chibougamau, a major Quebec wood processor selling roughly half of its products to the US. www.bloomberg.com/news/article...

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Retaliation, a good idea? “If we start slapping tariffs on the US, which will not be optimal for the Canadian economy, then you’ll limit the ability of the central bank to cut rates,” said Stefane Marion, chief economist with National Bank. www.bloomberg.com/news/article...

submitted 39 days ago • 1 comment

(Bloomberg) -- US stock futures sank in early trading on Friday morning after China announcedextra tariffs on US goods, extending Thursday’s selloff. Futures contracts on the S&P 500 sank 2.5%, and Nasdaq 100 futures slumped 2.9%.

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“It’s going very well.” - Donald Trump

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Interesting report from National Bank of Canada: "We estimate that, under the current measures, the effective trade-weighted tariff rate on Canadian exports remains below 5%." www.nbc.ca/content/dam/...

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Air Canada reports a 10% decline in bookings for transborder flights between Canada and the US for the April-to-September period compared to last year, as Canadians respond to the trade war by avoiding trips south. Shares are down by ~36% YTD. www.bloomberg.com/news/article...

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Bankrupt battery maker Northvolt AB will continue to operate in Sweden with a staff of 1,700 while its remaining employees will be laid off. www.bloomberg.com/news/article...

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"We agree on many things, and will be meeting immediately after Canada’s upcoming Election to work on elements of Politics, Business, and all other factors, that will end up being great for both the US and Canada,” Trump said after talking to Carney. CAD jumps:

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Trump's tariffs on Canadian wood risk upsetting the supply chain for... toilet paper The kind of pulp mainly sourced from Canada is a key ingredient, experts tell me and @mathieudion.bsky.social

submitted 47 days ago • 1 comment

Trump’s promised tariffs on softwood lumber risk disrupting the supply chain for something nobody wants to be caught without: toilet paper. NBSK pulp constitutes about 30% of standard US bathroom tissue and is currently sourced primarily from Canada. www.bloomberg.com/news/article...

submitted 47 days ago • 19 comments

Private equity firms are showing strong interest in buying about 2,000 North American convenience stores that could be divested if Alimentation Couche-Tard Inc. succeeds in its $49 billion endeavor to buy out Seven & i, said the CFO in an interview. www.bloomberg.com/news/article...

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Asked about the risk of a downgrade to Quebec’s credit rating, finance minister Girard acknowledged that credit agencies have taken a negative view on Canadian provinces. “We are confident that our plan to return to a balance budget is credible,” he said. www.bloomberg.com/news/article...

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Petit update sur Northvolt :

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Hi, This tariff tracker is amazing: www.bloomberg.com/graphics/tru...

submitted 53 days ago • 0 comments

THE MOTHER OF ALL PAIN TRADES In the newsletter, wrote about the simple chart that interests me more than anything else right now. Sub here to the newsletter: www.bloomberg.com/account/news...

submitted 53 days ago • 13 comments

“Canceling the F-35s might be a good idea, but we need to think about it,” Bombardier CEO Eric Martel told a business audience in Montreal Wednesday. “We have contracts with the Pentagon. Will there be reciprocity there?” www.bloomberg.com/news/article...

submitted 56 days ago • 1 comment

Après Northvolt, le chantier de l'usine d'Ecopro BM de 1,2 milliards $ à Bécancour pourrait ne jamais redémarrer. “If there are tariffs on Canadian products, there’s little difference from running a plant in Korea” and exporting directly to the US, the CEO of Ecopro Materials told Bloomberg News.

submitted 56 days ago • 2 comments

Glencore cherche à réduire davantage ses coûts au Québec. www.bloomberg.com/news/article...

submitted 60 days ago • 0 comments

Justin Trudeau is out. Mark Carney is in. And his arrival as Canada’s new leader creates an opening for the government in Ottawa to reset its tense relationship with the US and President Donald Trump. www.bloomberg.com/news/article... w/ @rtkwrites.bsky.social @brianplatt.bsky.social

submitted 60 days ago • 0 comments

Today, Couche-Tard's top executives, including the founder Alain Bouchard, were in Tokyo on a publicity blitz as they step up what they call a “friendly” pursuit of Seven & i. www.bloomberg.com/news/article...

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Canada's 25% reciprocal tariffs apply to a hobby famously enjoyed by the tariff-advocating US president: golf balls and other golf equipment, reports @twseal.bsky.social. www.bloomberg.com/news/article...

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(Bloomberg) -- Battery maker Northvolt AB is preparing to file for bankruptcy of its entire Swedish operations as soon as Wednesday, Dagens Nyheter reported, citing sources it didn’t identify.

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American manufacturers are already paying much higher prices for aluminum, steel and copper than rival plants overseas, in a trend that’s sapping business confidence and stoking worries about inflation even before tariffs on metals come into effect. www.bloomberg.com/news/article...

submitted 63 days ago • 1 comment

What if Canadian pension funds had invested more in the economy here, instead of betting on assets all over the world? Would Canada be in a better position to deal with a trade war? www.bloomberg.com/news/article...

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Hudson's Bay, the Canadian department store chain founded in 1670, is preparing for a bankruptcy filing within days, according to the Wall Street Journal.

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On Monday, Ontario will add a 25% surcharge on its power exports to the US. “It’s far from evident how that works,” Hydro-Quebec’s CEO said last month. “If you come in at a price that is 10% or 15% higher, the market is just going to stay at whatever the spot market price is.”

submitted 67 days ago • 1 comment

Despite patriotic Canadians' desire to boycott American goods, many rely on Starlink's internet service, which has become a lifeline for remote communities. “What is the alternative? There’s not much alternative,” said Quebec’s minister Gilles Belanger. www.bloomberg.com/news/article...

submitted 68 days ago • 4 comments

Justin Trudeau is not open to lifting Canada’s full package of retaliatory tariffs if Donald Trump leaves any tariffs on Canada in place, according to a senior Canadian government official, reports @brianplatt.bsky.social. Trudeau and Trump are scheduled to speak later Wednesday morning.

submitted 69 days ago • 1 comment

The front page of today's national newspaper in Canada.

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Ontario has threatened to shut off electricity to NY, and Quebec is looking at its own retaliatory options. Power supply to NYC could be affected, along with the state's clean energy roadmap. www.bloomberg.com/news/article... @bloomberg.com @willwwade.bsky.social @mathieudion.bsky.social

submitted 69 days ago • 2 comments

In the corporate jet business, some would-be US buyers are hitting the pause button, said Greg Raiff, CEO of Elevate Aviation Group. Spare parts are a huge consideration and that’s prompted potential buyers of jets made by Bombardier to back off. www.bloomberg.com/news/article...

submitted 69 days ago • 0 comments

FYI:

submitted 69 days ago • 0 comments