Author Archives: Danielle Park

Conditions least favorable for equities since 2007

Posted on July 26, 2023 by Danielle Park

For those who pay attention to risk/reward dynamics, the prospective compensation for equity risk over Treasury bonds is today the lowest since the market peak in 2007-08 (S&P 500 forward earnings yield minus the ten-year Treasury yield). David Rosenberg, founder … Continue reading →

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Canadian equity market: high capital risk amid falling earnings

Posted on July 25, 2023 by Danielle Park

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

Posted on July 24, 2023 by Danielle Park

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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