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Despite trade tensions and a weakening economy, Canada's TSX index outshone its US counterpart in the first half thanks to a record-breaking gold rally. The question now is whether the gold-led rally will fade. More from @geoffmorgan.bsky.social and I: www.bloomberg.com/news/article...

Money managers who pointed to the TSX as a safe place to hide if the US tech bubble burst are now pivoting from that advice as Canadian stocks are "caught in the downdraft" of tariff drama. More from @geoffmorgan.bsky.social, @cuhe.bsky.social and I: www.bloomberg.com/news/article...

Canadian stocks dropped in morning trading, falling with global markets after US President Donald Trump applied tariffs to most of its trading partners. From @geoffmorgan.bsky.social and I in our @bloomberg.com markets coverage: www.bloomberg.com/news/article...

Volatility from trade tensions with the US kept a lid on Canada’s market for equity deals in the first quarter, even as activity in precious metals perked up.

Vehicle buyers in Canada are trying to beat the price hikes of a trade war, as the government of Prime Minister Mark Carney prepares to strike back against the latest fusillade of import taxes from the White House.

Canada's Conservative Party promise to allow individuals to avoid income taxes on some investments in domestic companies is being lauded by some in Toronto’s financial district. More from @geoffmorgan.bsky.social and I: www.bloomberg.com/news/article...

A Canadian investment firm changed the name of its US-focused subsidiary to Made in America Gold from NV King Goldlands. The switch comes as US President Donald Trump is encouraging firms to relocate operations to the country and threatening imports with escalating tariffs.

Despite patriotic Canadians' desire to boycott American goods, many rely on Starlink's internet service, which has become a lifeline for remote communities. “What is the alternative? There’s not much alternative,” said Quebec’s minister Gilles Belanger. www.bloomberg.com/news/article...

Actual Bloomberg alert just sent: *TRUMP: GLOBALISTS ARE BEHIND STOCK SELL OFF

Last chance? If it’s a product of the USA, Canadian consumers are increasingly saying, “no chance.” Story by our @geoffmorgan.bsky.social (gift link) www.bloomberg.com/news/article...

The "Buy Canada" movement is real, reports @geoffmorgan.bsky.social At Loblaws, the country’s largest food purchaser, sales of Canadian food had already grown by 8% in the first week of February - before signs identifying domestic products went up

Canadians are buying either local produce or non-US produce. Shunning American alcohol. Cancelling US-bound trips. My latest: The Buy Canada, Bye America movement: www.bloomberg.com/news/article...

If you were wondering whether Canadians were still upset about Trump's tariff threats, @geoffmorgan.bsky.social has some news for you www.bloomberg.com/news/article...

AS CALLED ON: Canadian TV (English) Canadian TV (French) NHL Radio ESPN Deportes

Coveo CEO Louis Tetu sets his investment sights past the Magnificent Seven and toward energy stocks, banking on power-hungry AI data centers to drive more demand. $CVO More from me, @geoffmorgan.bsky.social and @mathieudion.bsky.social: www.bloomberg.com/news/article...

Canadian money managers are gearing up for more turbulence in trading this week with tariff uncertainty hanging over the markets. They're eyeing cash, gold names, among others. More in the latest from @geoffmorgan.bsky.social and I: www.bloomberg.com/news/article...

One day of extreme volatility has shaken Canada’s stock market to the point that strategists may re-consider their benchmark targets for the entire year, argue some Bay Street market strategists. More from @geoffmorgan.bsky.social and I: www.bloomberg.com/news/article...

From the rocky shores of Newfoundland to the towering forests of British Columbia, Canadians have an unfamiliar feeling growing inside them: They are angry. Very, very angry. www.bloomberg.com/news/article...

Canada’s benchmark stocks gauge may see a sharp correction after US President Donald Trump signed an executive order imposing tariffs on imports from the country on Saturday, analysts say. www.bloomberg.com/news/article... w/ @stephaniehughes.bsky.social

As Canada’s currency weakens, fund managers are leaning into sectors that pay expenses in CAD while collecting revenue in US dollars. That has made buying stocks in gold miners a jackpot trade. The latest from @geoffmorgan.bsky.social and I: www.bloomberg.com/news/article...

President Trump’s repeated threats to impose steep tariffs on Canada and other friendly nations have left Toronto with some of the world’s worst-performing oil and gas stocks @geoffmorgan.bsky.social breaks it down www.bloomberg.com/news/article...

ICYMI: Canada’s stock market — where returns have lagged the US for two straight years — might offer investors protection against a downturn in US stocks, a Toronto-based asset manager says. www.bloomberg.com/news/article...

President Donald Trump’s repeated threats to slap steep tariffs on Canada and other friendly nations have left Toronto with some of the world’s worst-performing oil and gas stocks.

Canadian equities, which have trailed the US for two straight years, may be a safe place to hide during a downturn in US stocks, says Picton Mahoney. More from @geoffmorgan.bsky.social and I: www.bloomberg.com/news/article...

Bay Street market strategists are going over their investment game plans since Trudeau's resignation and Trump's comments to use "economic force" to make Canada the 51st state. More in my latest for @bloomberg.com with @geoffmorgan.bsky.social: www.bloomberg.com/news/article...

Up and down Toronto’s Bay Street, investors and strategists are rewriting the playbook for Canadian stocks. The reason, naturally, is Donald Trump. w/ @stephaniehughes.bsky.social

Trudeau's government is preparing a huge range of tariffs on US imports if Trump proceeds with his economy-wide 25% levy, sources say. This is not like 2018, where Canada only targeted a few strategic goods with retaliation. www.bloomberg.com/news/article...

Vistra Corp. just pulled off a feat that no other utility stock has managed since 2001 — it topped the leaderboard of the S&P 500 Index with an eye-popping 264% annual gain.

While US equities churn near all-time highs, one of the most closely watched indexes is mired in its longest losing streak since Jimmy Carter was president. The Dow Jones Industrial Average fell 0.6% as of 11 a.m. in New York and is headed for a ninth straight decline.

Why trade wars are bad for consumers, Exhibit 1.

The S&P 500 Index is now headed for its ninth consecutive day where the number of constituents falling outnumbers those rising. That’s longest such streak since Bloomberg started collecting the data in 2004.

“PE firms like buying broken assets, adding value, and then exiting three to five years later at a profit. Although they marveled at our business, they had a hard time appreciating where they could fit in, and we agreed.” The IPO became the best option. www.bloomberg.com/news/article...

Canadian Western Bank shares sank after the firm delayed its fiscal fourth-quarter earnings release Friday morning and left investors guessing why.

The expansion of Trans Mountain was an expensive bid to help reduce Canadian oil producers' near-total reliance on US markets. If Trump follows through on his tariff threats, that bet could prove it worth. www.bloomberg.com/news/article...

My latest: Looser regulation in the US is poised to outweigh the threat of hefty tariffs when it comes to the outlook for Canadian equities next year, according to AGF Investments Inc.

Equity investors in Toronto and New York face vastly different risks following President-elect Donald Trump’s threat to ramp up tariffs on cross-border trade to 25% from previous expectations of 10%.

The Canadian economy eked out a small gain last month after a weaker-than-forecast third quarter. *October GDP estimate: 0.1% *Sept. GDP: 0.1% vs 0.3% expectations *3Q GDP: 1% annualized vs 1.5% BOC forecast After the release, traders increased their bets for a second straight 50bps cut on Dec. 11

New from this morning: The rally in Canadian equities led Ned Davis Research to urge investors to boost their exposure to the market by upgrading Toronto-listed stocks to overweight.

Canada Competition Bureau sues Google over anticompetitive conduct in online advertising Agency has applied to court for Google to sell two adtech units, pay a penalty, and stop alleged the alleged conduct

Trump threatened 25% tariffs on Mexico and Canada demanding they stop fentanyl and undocumented migrants crossing the border. US customs data show about 1000 times more fentanyl was intercepted at the southwest border vs the north in the last couple of years:

Tariff threats led to Canada's main stock index struggling for most of the trading day today as industrials weighed on the S&P/TSX Composite. w/ @geoffmorgan.bsky.social More in the Bloomberg team's tariff coverage: www.bloomberg.com/news/article...

Pensez-y bien...

I made a chart.

with @stephaniehughes.bsky.social: Industrial stocks led declines in Toronto on Tuesday after US President-elect Donald Trump threatened 25% tariffs on goods produced in Canada and Mexico on Monday night.

Worst performer today on the TSX due to Trump's tariff shock: Bombardier, which fell as much as 13%. Bloomberg Intelligence: "Bombardier is susceptible to Trump-imposed tariffs, with most of the manufacturing of its business jets done in Canada, while its most-important market is the US."

TD Bank's money-laundering problems destroyed CEO Bharat Masrani's legacy, but now some shareholders are asking: where's the accountability for the board? Read Bay Street Edition, our weekly newsletter: www.bloomberg.com/news/newslet...