Jun 6, 2022 | Notes from the Desk
A Bond Play on the Rogers/Shaw Acquisition. In March 2022, Rogers issued bonds with an interesting clause referred to as Special Mandatory Redemption. If the merger is not concluded by December 31st, 2022, the bonds will be redeemed at $101. Shaw’s equity is roughly...May 13, 2022 | Notes from the Desk
Not On Autopilot – The Bank of Canada amidst the perfect storm. In yesterday’s speech (“the perfect storm”), Toni Gravelle, Deputy Governor of the Bank of Canada shared some insights into the BoC’s thinking. The policy rate needs “to be at neutral levels to help cool...May 12, 2022 | Notes from the Desk
US CPI |Hotter Than Hoped. Although US CPI decelerated in April, it remains far too high: Headline CPI rose 0.3% (0.2% expected) leaving the annual rate at 8.3% (8.1% expected) Core prices rose 0.6% (0.4% expected) bringing the annual rate to 6.2% (6% expected) ...May 5, 2022 | Notes from the Desk
Notes From the Desk | The Fed’s Playbook Leaked Unlike the Supreme Court’s abortion ruling, which was leaked in secret, the Fed’s playbook was leaked by Chairman Powell himself. Today’s meeting was fairly uneventful in that they raised the Funds rate by 50...Apr 20, 2022 | Notes from the Desk
Notes From the Desk|CAD CPI – Surprised But Not Surprised CAD CPI for March blew past expectations coming in at a hot 1.4% increase for March (1% expected) bringing the YoY change to 6.7% (6.1% expected). While food, energy, and shelter costs continue to rise,...
