On July 15, 2020, Royal Bank of Canada (?Royal Bank?) held a roadshow to announce a new form of Additional Tier 1 (AT1) security that the Office of the Superintendent of Financials Institutions (OSFI) had approved. The structure had solved the conundrum facing Canadian banks since the old Innovative Tier 1 bonds had been deemed non-compliant following the Global Financial Crisis of 2008. ... read more
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Aug 06, 2020 | John Shaw
Jul 21, 2020 | Drummond Brodeur
We are in the most uncertain of times. The global pandemic is still accelerating, and unprecedented policy stimulus, funded by unimaginable debt burdens, has been unleashed. Tens of millions have lost their jobs with many only just learning how permanent the losses will be as business shutdowns begin to ramp in coming quarters.... read more
Jun 01, 2020 | Alexandra Gorewicz
In these still early and unprecedent days, forecasting the near-term social and economic impact of the pandemic feels like a tall order; attempting to look out one year or beyond feels like a Magic 8-Ball consultation: Will we have more answers than questions in 2021? ?Cannot predict now.? Will economic growth rebound in 2021? ?Ask again later.? Will the price of goods and services be higher or lower in 2021? ?Yes ? definitely.?... read more
May 25, 2020 | Joshua Varghese
Real estate is seemingly the easiest investment asset class in the world for investors to understand, as property may be the only asset class that every person on earth uses all the time. ... read more
May 19, 2020 | Jeff Elliott
In my previous blog, I outlined several of the key facts and unknowns related to the current global pandemic, including potential treatments and the results of possible health policies aimed at allowing a return to ?normal.? ... read more
May 13, 2020 | Jeff Elliott
These are unprecedented times, both from a human health and welfare perspective and a market perspective. Things are moving quickly and there is a lot of misinformation and partial information circulating. ... read more
Apr 24, 2020 | Drummond Brodeur
By Drummond Brodeur, Senior Vice-President and Global Strategist ? We enter the second quarter in a virtual lockdown as the world reels from the impact of the global COVID-19 pandemic. Having exploded across China in February, the virus spread quickly through the developed world in March and, we fear, may continue to make explosive inroads into many emerging economies in the coming month(s). ... read more