
FOMO is Gripping Credit Markets, Making Bond Premiums Vanish
It’s been some time since companies could raise cash in debt markets and come away feeling like they got the better end of the deal.
Latest Videos
The information you requested is not available at this time, please check back again soon.
It’s been some time since companies could raise cash in debt markets and come away feeling like they got the better end of the deal.
China’s all-or-nothing stock market is losing momentum, after three months of what might be best described as forced buying of a deeply oversold asset.
New Statistics Canada data shows investors made up almost one third of homeowners in some provinces in 2020.
A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a resurgence in consumer demand that leans against concerns of an imminent economic slowdown.
Sales in the Toronto housing market ground to the slowest pace since the first month of the pandemic as buyers contend with some of the highest borrowing costs they’ve seen in 15 years.
Oct 4, 2021
BNN Bloomberg
,A record number of Canadians moved to the East Coast in the second quarter of 2021, according to new research from RBC Economics.
Atlantic Canada attracted more than 7,500 interprovincial migrants in the months of April, May and June, said RBC analyst Carrie Freestone in a note to clients. That’s a larger haul of new residents than in 2019 and 2020 combined.
More than half of them (55 per cent) settled in Nova Scotia, making Halifax one of Canada’s fastest growing cities. Meanwhile, 25 per cent migrated to New Brunswick.
“Lower COVID spread in the Maritimes probably amplified the region’s appeal,” said Freestone in the note. “But relatively affordable housing was likely an even bigger draw, especially as home prices skyrocketed in already-expensive parts of the country and more Canadians were able to work remotely.”
According to the Canadian Real Estate Association, the average price for a home in Halifax-Dartmouth was $455,000 in the second quarter of 2021. That represents a nearly 28 per cent jump from one year ago, but still pales in comparison to the average price for a home in Greater Toronto — which had climbed as high as $1.1 million as of August, according to the Toronto Regional Real Estate Board.
Nearly half of all of Atlantic Canada’s newest residents are under the age of 44, RBC’s research suggests.
That could prove to be a boon to the East Coast’s labour force and for local businesses, since historically, the region has seen its well-educated and highly-skilled work force move to Western Canada in search of higher wages.
“It remains to be seen whether the surge of newcomers will endure,” said Freestone. “If it does, this would be great news for a region that has struggled to attract and retain people for decades.”
“New arrivals on the coast bode well for population growth too, especially once immigration resumes. Additional new residents could drive stronger consumer spending and will also result in higher government revenues, fueling this Atlantic revitalization.”