Canada Fined A Chinese State-Owned Bank For Anti-Money Laundering Non-Compliance
02/03/2022 10:06 AMCanada just fined the world’s largest bank for not following anti-money laundering rules. A local subsidiary of the Industrial and Commercial Bank of China (ICBC) paid over $700k in penalties last year. Despite only being fined weeks ago, FINTRAC, Canada’s financial...
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Schachter’s Eye on Energy for February 2, 2022
02/02/2022 11:32 AMEach week Josef Schachter gives you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 30 energy, energy service and pipeline &...
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Erin O’Toole ousted as leader of the Conservative Party
02/02/2022 10:47 AMA majority of Conservative MPs have voted to remove Erin O’Toole as party leader. Three sources have confirmed to the National Post that 73 MPs voted against O’Toole and 45 voted in favour. The decision was made on Wednesday morning during a virtual meeting. Caucus...
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Lumber prices crash 30% in 2 weeks as rising mortgage rates take some heat out of US housing market
02/01/2022 1:15 PMLumber prices have plummeted 30% over the past two weeks as the housing market cools down. A surge in mortgage rates contributed to a decline in pending home sales last month, according to the National Association of Realtors. Lumber is still facing supply chain...
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Canadian economy back to pre-pandemic levels in November: StatsCan
02/01/2022 12:54 PMCanada’s real gross domestic product (GDP) increased 0.6% in November 2021, Statistics Canada announced February 1, lifting GDP 0.2% higher than it was in February 2020 – before the pandemic took its toll on the economy. This was the sixth consecutive monthly...
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Fauci Knew About Likely Lab-Leak From Secret Teleconference, Pushed Alternate Narrative Instead
02/01/2022 12:24 PMDr. Anthony Fauci was told in a secret teleconference that the coronavirus had very likely leaked from a laboratory in China, yet still pushed the alternate narrative that it had originated naturally, new evidence allegedly shows. Redacted emails that were recently...
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Trading Desk Notes for January 29, 2022
01/31/2022 1:32 PMReassessing The Fed = Market Mayhem On January 15, the lede for my TD Notes was: “Peak Fed Hawkish – Or Minsky Moment?” Since then, particularly since Wednesday’s Fed meeting, price action would tell you that we’ve had a “Minsky Moment” – that the Fed is a LONG way...
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Quote of the Week, Shocking Stat & Goofy Award
01/30/2022 1:54 PMQuote of the Week Common Sense 101 - no matter what the policy there are always consequences - whether politicians acknowledge them or not. Shocking Stat To borrow from Orwell - in Canada everyone is created equal but when it comes to money and jobs during the...
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Mike’s Comment – Jan 29th
01/30/2022 1:44 PMThe reaction to the Truckers' Convoy by the establishment is both predictable and disappointing - more important it's a missed opportunity to help heal growing divisions in the...
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January 29th Episode
01/29/2022 8:24 AMMike's take on why the Truckers' Convoy was inevitable. And do rising interest rates mean rising real estate prices? Not according to Vision Capital's Jeff Olin who shares his unique take, and he's got history in his corner. And for the 1st time a "phrase" wins the...
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