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Monthly Archives: July 2023
Canadian equity market: high capital risk amid falling earnings
Canada’s TSX index has rebounded 6%, year-to-date, while its corporate earnings have contracted. As of today, the S&P/TSX Composite is expected to report a Q2 (year-over-year) earnings decline of -20.4%, compared to the estimated (year-over-year) earnings decline of -17.4% on … Continue reading
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Moody’s: financial conditions pose growing threat to non-banks
A new report from Moody’s highlights the clear and present risks posed by “less regulated and transparent parts of the global financial system.” In particular, financial institutions carrying “more leverage, less liquidity and weak risk management will find it harder … Continue reading
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Fat pitches and market cycles
Near-zero interest rates and trillions of asset buying by central banks (QE) enabled twelve years of increasingly deranged financial behaviour between 2011 and 2023. In the process, gambling became an international preoccupation, and investable assets were traded to uneconomically high … Continue reading
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