When Justin Trudeau comes to Washington later this week, Canada’s new prime minister will become the first Canadian leader in almost two decades to be welcomed by the White House with a state dinner. It’s an important relationship, the U.S. gets more oil from Canada than any other country and it’s one of this nation’s biggest trading partners. But relations lately have been a little frosty after years of Conservative leadership in Ottawa that was often at odds with the Obama administration. That changed when 44-year-old Trudeau took office last fall. Here is a direct video link.
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Cory’s Chart Corner
Great chart from @crescatkevin on growing delta between CCCs and BBBs. Carry-on as if everything is normal!
Kevin C. Smith, CFA @crescatkevinThe second indicator is widening CCC vs. BBB credit spreads.
Credit markets are generally quicker to pick up on deteriorating corporate cash flows than equity markets. While the S&P 500 Index has been hitting new all-time highs over the past six months, US triple-C credit_________________________
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