Banks Find a Tough Crowd

May 25, 2018

Canada’s equity market didn’t start the year off in good shape and the ratio of the Dow to the TSX hit a record high of 1.65 in early February.  Since then we have seen steady improvement in relative performance to the US and, though this has not exactly been supported by financials, which are still down 1.7% from that point, compared to an overall gain of about 1.5% in the TSX.  Lack of confidence in the banks showed up again this week. Read More…

Implied Taxes on Consumption

May 18, 2018

The federal government recently stated that it has already taken steps to address Canada’s competitiveness, despite the deterioration of our relative taxation position with the US after the country’s tax reform bill. We are all supposed to feel richer, but two developments have taken place that are making Canadians feel the opposite and there are tax measures in sight to help.  In fact, higher energy prices and interest rates are acting like tax hikes. Read More…