Tweets, dismissals and intrigue.  This has been the staple diet for market participants since February.  Yet, regardless of the Washington headlines that have dominated the media, investors have successfully turned a blind eye to the noise. More importantly, they have vaulted earnings data and fiscal ‘promises’ to the top of the priority list, allowing some of the major indices to reach record highs. That ability came to a screeching halt this week. Read More…

In 2013, Canada’s big banks received a credit rating haircut over concerns even then of escalating household debt.   The move saw bank stocks take a temporary hit, yet until recently that memory had faded in investors’ minds, just like the 50% plus drop in share prices in 2008-09.  It was revived this week as Moody’s lowered bank ratings again and left its outlook for future rating changes as ‘negative’. Read More…