DOCSLIB.ORG

Macro View Canadian Markets

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Macro View Canadian Markets INVESTMENT STRATEGY GROUP MARKET BEAT Monday, November 09, 2020 MACRO VIEW Market Indicators Index Level* Change YTD YTD (C$) The TSX (+1.9%) hit a two-month high and Wall Street’s main indices S&P/TSX 16,590.29 1.89% -2.8% -2.8% rallied after the pharmaceutical company Pfizer said its experimental S&P 500 3,620.68 3.17% 12.1% 11.8% COVID-19 vaccine was more than 90% effective in drug trials. West NASDAQ 12,097.34 1.70% 34.8% 34.5% Texas Intermediate crude oil (+10.1%) prices rose, supported by a Dow Jones 29,587.54 4.46% 3.7% 3.4% Saudi oil minister’s comment that OPEC output cuts could be adjusted Nikkei 225 24,839.84 2.12% 5.0% 8.1% to offset rising supply and weak demand. Gold (-4.3%) retreated as Euro Stoxx 50 3,426.85 6.95% -8.5% -3.5% stock markets rallied on positive vaccine news. North American bond FTSE EM 2,505.24 1.75% 8.4% 8.1% yields jumped in morning trade with the U.S. 10-year at 0.96% and the Canadian 10-year at 0.78%. The Canadian dollar strengthened against Canadian Market Movers the greenback to a 2-year high following news of a promising COVID-19 vaccine development. SU Suncor Energy 17.7% CVE Cenovus Energy 14.6% CANADIAN MARKETS CNQ Can Natural Res 14.2% IMO Imperial Oil 11.7% Air Canada (AC, +19.6%) reported Q3 revenue of $757 million but missed BAM/A Brookfield Ass 10.9% consensus by 29%. AC posted an adjusted EBITDA loss of $554 million, SHOP Shopify Inc -6.9% which excludes contributions from the Canada Emergency Wage Subsidy KL Kirkland Lake Go -8.0% program (CEWS), missing consensus expectations of a loss of $514 ABX Barrick Gold Crp -8.4% million. Cash burn came in at $9 million/day, lower than the company’s AEM Agnico Eagle Min -8.9% prior guidance of $15 million/day to $17 million/day. It plans to reduce K Kinross Gold -9.8% its available seat miles capacity by 75% year-over-year (Y/Y) in Q4. *As of November 9 2020 10:31 AM. Source: Bloomberg Canopy Growth (WEED, +7.6%) reported net revenue of $135 million beating consensus of $118 million. Adjusted EBITDA came in at a loss of U.S. Market Movers $86 million, slightly better than consensus expectations for a loss of $87 SPG Simon Property 20.1% million. Based on the company’s own proprietary market share tracker, AXP American Express 18.3% it increased its Canadian recreational market share by 200 basis points to 15.5%. It noted that it is working on implementing initiatives to yield SLB Schlumberger Ltd 16.4% between $150 million and $200 million in cost savings. Aurora Cannabis BKNG Booking Holdings 15.7% COP Conocophillips 14.4% (ACB, +15.9%) reported Q1/F21 revenue of $68 million which was higher than the consensus of $64 million. ACB reported an adjusted EBITDA loss LOW Lowe'S Cos Inc -5.0% of $10.5 million (excluding restructuring payments of $47.4 million) ABT Abbott Labs -5.1% which was higher than the street’s expectations for a loss of $9 million. TMO Thermo Fisher -5.3% Aurora expects to generate positive adjusted EBITDA in Q2/F21. NFLX Netflix Inc -5.5% Brookfield Infrastructure Partners (BIP.UN, +5.8%) posted funds from FDX Fedex Corp -8.1% operations (FFO) and adjusted EBITDA that topped consensus. The *As of November 9 2020 10:31 AM. Source: Bloomberg results from its utilities segment were impacted by the weakness in the Brazilian real. However, after adjusting for the depreciation in the Benchmark Bonds & Rates Brazilian real, net income across all segments showed Y/Y 1 1 2 2 Chg Yld Dec-20 Mar-21 improvement. CA 2YR 0.02% 0.28% 0.35% 0.35% Canaccord Genuity (CF, +6.8%) announced Q2/21 adjusted EPS of CA 10YR 0.13% 0.78% 0.70% 0.80% $0.28, ahead of consensus of $0.17. CF generated a revenue of $390.4 US 2YR 0.03% 0.18% 0.25% 0.30% million, beating consensus at $342 million. The primary reason for the US 10YR 0.14% 0.96% 0.80% 1.00% beat was a growth of over 150% in investment banking revenue in 1 2 2 Rate Dec-20 Mar-21 Australia, Canada, and the U.S. CA Prime 2.45% - - Equinox Gold (EQX, -8.4%) reported inline cash flow from operations CA Overnight Tgt 0.25% 0.25% 0.25% (CFO) per share for Q3/20. It produced 124,867 ounces of gold, below Fed Funds Tgt 0.25% 0.13% 0.13% 1 - As of November 9 2020 10:31 AM.; 2 - CIBC forecasts. Source: Bloomberg CIBC PRIVATE WEALTH MANAGEMENT INVESTMENT STRATEGY GROUP 1 Market Beat Currencies & Commodities the consensus forecast at 134,000 ounces of gold. EQX noted all mines Price* Change YTD are operating in-line with guidance except for Los Filos. C$/US$ 0.772 -0.009 0.3% Vermilion Energy (VET, +16.8%) announced Q3/20 CFO per share that US$/€ 0.844 -0.002 -5.4% beat consensus. It produced 95.5k boe per day, slightly ahead of Gold $1,864.26 -$87.06 22.9% consensus at 94.6k boe per day. VET reduced the upper-end of 2020 Copper per 100 lb $318.50 $3.10 12.7% production guidance by 2k boe per day to 94-96k boe per day. Oil (WTI) $40.81 $3.66 -33.2% CCL Industries (CCL.B, +5.1%) will acquire Kuala Lumpur based, Super Oil (WCS) $31.54 $3.56 -18.2% Enterprises Printing along with its China’s operation for US$20 million. Natural Gas (NYMEX) $2.84 -$0.04 29.9% Super Enterprises generated approximately US$26 million in revenue and Natural Gas (AECO) $2.04 -$0.18 19.3% *As of November 9 2020 10:31 AM. Source: Bloomberg US$3 million of adjusted EBITDA over the past 12 months. U.S. MARKETS Equity Indices YTD 120 Pfizer (PFE, +6.1%) and BioNTech (BNTX, +10.9%) announced that its 110 COVID-19 vaccine was found to be effective in over 90% of participants 100 from its phase-3 clinical trials. The results were discovered in study 90 participants who were not previously infected with COVID-19. Shares of 80 travel companies also received a boost from the promising study results, 70 with Royal Caribbean (RCL, +30.9%), Carnival (CCL, +36.7%), Norwegian (NCLH, +25.3%), United Airlines (UAL, +16.3%), American 60 Airlines (AAL, +14.6%) Delta Airlines (DAL, +13.3%) and Southwest 31 Jul 31 30 Apr30 31 Jan 31 31 Oct 31 30 Jun 30 30 Sep30 31 Mar31 29 Feb 29 31 Aug31 31 Dec 31 Airlines (LUV, +14.6%) all posting gains. May 31 S&P/TSX Dow Jones S&P500 McDonald’s (MCD, +1.7%) posted a profit of US$2.22 per share for its third quarter, beating the consensus expectation of US$1.90 per share. Revenue of US$5.42 billion also came in above the consensus estimate. Earnings Releases Q3 global comparable sales fell 2.2% year-over-year (Y/Y) and were in Name Date Est. Act. line with consensus while U.S. comparable sales topped expectations. Mcdonalds Corp (MCD) 11/09 $1.91 $2.22 * Wheaton Precious (WPM) 11/09 $0.33 -- * Party City (PRTY, +23.7%) reported Q3/2020 EPS of US$0.10, surpassing an anticipated consensus loss of US$0.32 per share. Revenue also beat, Simon Property (SPG) 11/09 $2.28 -- * and the company provided better-than-expected guidance. Brookfield Infra (BIP) 11/09 $0.11 $0.19 * Intl Flvr & Frag (IFF) 11/09 $1.45 -- * Volkswagen’s (VOW3, +7.6%) heavy truck segment, Traton SE (8TRA, Canopy Growth Co (WEED) 11/09 -$0.40 $0.01 +7.0%), has finalized its deal to take over the large vehicle Occidental Pete (OXY) 11/09 -$0.77 -- * manufacturer, Navistar (NAV, +0.7%). Traton will pay US$3.7 billion to Howmet Aerospace (HWM) 11/09 $0.05 $0.03 * acquire the shares of Traton it doesn’t already own. Can Apartment (CAR-U) 11/09 $0.57 -- Berkshire Hathaway (BRK.A, +6.6%) reported a rise in its overall Ivanhoe Mines Lt (IVN) 11/09 -$0.02 -- * Q3/2020 earnings, helped higher by a jump in the value of its stock Norwegian Cruise (NCLH) 11/09 -$2.24 -- * portfolio. However, operating profit was lower year-over-year with the Air Canada (AC) 11/09 -$2.85 -$2.31 company’s insurance underwriting segment weighing on performance. Equinox Gold Cor (EQX) 11/09 $0.27 $0.21 Source: Bloomberg * = USD Economic Calendar - Canada Economic Calendar - U.S. Day Release Prior Est. Actual Day Release Prior Est. Actual 11/9 Bloomberg Nanos Confidence 52.5 -- 52.5 11/10 NFIB Small Business Optimism (Oct) 104 104.2 -- 11/16 Bloomberg Nanos Confidence 52.5 -- -- 11/10 JOLTS Job Openings (Sep) 6493 6500 -- 11/16 Manufacturing Sales MoM (Sep) -2.00% -- -- 11/11 MBA Mortgage Applications 3.80% -- -- 11/16 Existing Home Sales MoM (Oct) 0.90% -- -- 11/12 CPI MoM (Oct) 0.20% 0.20% -- 11/16 Bloomberg Nov. Canada Economic Survey () 0 0 0 11/12 CPI Ex Food and Energy MoM (Oct) 0.20% 0.20% -- 11/17 Housing Starts (Oct) 209.0k -- -- 11/12 CPI YoY (Oct) 1.40% 1.30% -- 11/17 Wholesale Trade Sales MoM (Sep) 0.30% -- -- 11/12 CPI Ex Food and Energy YoY (Oct) 1.70% 1.70% -- 11/17 Int'l Securities Transactions (Sep) 15.51b -- -- 11/12 CPI Index NSA (Oct) 260.28 260.474 -- 11/18 Teranet/National Bank HPI MoM (Oct) 1.10% -- -- 11/12 CPI Core Index SA (Oct) 269.264 269.576 -- 11/18 Teranet/National Bank HPI YoY (Oct) 6.70% -- -- 11/12 Real Avg Weekly Earnings YoY (Oct) 4.10% -- -- Source: Bloomberg Source: Bloomberg BRAD BROWN, CFA - SR.
Load more

Recommended publications
  • CIBC Smart Plus Account Fee Rebate Terms and Conditions
    December 2019 Page 1 of 3 CIBC Smart™ Plus Account Fee Rebate Terms and conditions We will automatically rebate the monthly account fee for the month in which you open or convert to your first CIBC Smart Plus Account and for the next two months after that, even if you do not meet any of the eligibility conditions during this three month period. This three month fee rebate does not apply to any subsequent CIBC Smart Plus Accounts opened by you alone or jointly. Below explains how you can earn an on-going monthly fee rebate. Eligibility To benefit from the CIBC Smart Plus Account fee rebate, the following conditions must be met each month: • Your CIBC Smart Plus Account must be open at the time the fee rebate is applied; and • Maintain a minimum balance of: • $6,000 at the end of each day during the month in your CIBC Smart Plus Account to rebate the monthly fee on that account; or • $100,0001 of Savings and Investments (see definition and calculation below) at the end of each day during the month to rebate the monthly fee on one CIBC Smart Plus Account. If you have more than one CIBC Smart Plus Account, CIBC will determine which one will receive the Savings and Investments fee rebate. If you are a client with assets at CIBC Wood Gundy, CIBC Private Investment Counsel or CIBC Private Banking you automatically qualify to receive the monthly fee rebate on one Smart Plus Account. If you have more than one Smart Plus Account, CIBC will determine which one will receive the monthly fee rebate.
    [Show full text]
  • Macro View Canadian Markets U.S. Markets
    INVESTMENT STRATEGY GROUP MARKET BEAT Friday, September 18, 2020 MACRO VIEW Market Indicators Index Level* Change YTD YTD (C$) North American equity benchmarks are trading flat to higher. The U.S. S&P/TSX 16,296.32 0.31% -4.5% -4.5% Department of Commerce announced this morning that it will ban U.S. S&P 500 3,355.73 -0.04% 3.9% 5.4% business transactions with Chinese social media apps TikTok and WeChat NASDAQ 10,876.06 -0.31% 21.2% 23.0% starting on Sunday, meaning Americans will no longer be able to Dow Jones 27,882.86 -0.07% -2.3% -0.9% download the apps. In macro data releases, Canada’s retail sales in July Nikkei 225 23,360.30 0.18% -1.3% 4.2% grew by 0.6% month-over-month but missed analysts’ forecasts of 1.0%. Euro Stoxx 50 3,297.12 -0.59% -12.0% -5.6% Excluding automobiles, retail sales declined by 0.4% compared to FTSE EM 2,334.58 0.30% 1.0% 2.5% estimates of a 0.5% increase. Shifting to commodities, West Texas Intermediate crude oil Canadian Market Movers ( +0.3%) prices are little changed but they have already had a very K Kinross Gold 4.6% positive week due to the impact of Hurricane Sally in the U.S. and also comments from yesterday’s OPEC meeting saying that the group will SHOP Shopify Inc 3.9% clamp down on countries not complying with production curbs. Gold CCL/B Ccl Inds B 3.3% ( +0.3%) is trading higher even as government bond yields and the U.S.
    [Show full text]
  • List of Financial Institutions Offering Locked-In Pension Products Issued: September 5, 2018
    Superintendent’s List of Financial Institutions Offering Locked-In Pension Products Issued: September 5, 2018 This list is to be used for the purposes of sections 104-120, 105, 122-139, 141 and 162 of the Alberta Employment Pension Plans Regulation (154/2014, Consolidated up to 224/2014). The Financial Institutions that appear on this list, as indicated in bold typeface, have been acknowledged by the Superintendent to accept locked-in funds into the types of contracts indicated. The companies listed in regular typeface have been authorized by the Financial Institutions to accept locked-in funds on their behalf, and payments may be made directly to those listed agents. There may be institutions that have applied to appear on this list but whose application was still being processed at the time this list was updated. Please contact our office to verify the status of any Financial Institution with respect to this list. Questions may be directed to: Alberta Treasury Board and Finance Superintendent of Pensions #402, 9515 – 107 Street Edmonton, AB T5K 2C3 Phone: 780-427-8322 Fax: 780-422-4283 Email: [email protected] Website: www.finance.alberta.ca/business/pensions/ SUPERINTENDENT’S LIST OF FINANCIAL INSTITUTIONS OFFERING LOCKED-IN PENSION PRODUCTS BANKS LIRA LIF Canadian Western Bank 21-Dec-15 CIBC (Canadian Imperial Bank of Commerce) 1-Feb-07 23-Oct-07 Concentra Bank 20-Sep-06 20-Sep-06 Home Bank 6-Feb-18 HSBC Bank Canada 14-Sep-07 National Bank of Canada 11-Dec-07 Tangerine Bank 13-Nov-07 20-Jun-12 CREDIT UNIONS LIRA LIF BlueShore
    [Show full text]
  • Cibc Self Directed Investment Account
    Cibc Self Directed Investment Account Irrelevant Amory enkindle some microspores and catenating his grads so restrainedly! Creaking or germinant, Hercule never sovietize any pendragonship! Is Lincoln tawnier when Franklin chute obstructively? What you purchase mutual funds either remember using a td canada inc, and account investment accounts is summarized and US for example and an a TD Direct Investing account. Python with every thing: import requests from oauthlib. Online and mobile access to shower your CIBC banking and investing accounts. This slab is saturated to the trustee to crawl the administrative costs of overseeing the RRSP. That only among their chosen field is in touch id and paying a self directed account or on the ability to clear title to bring to. The Fidelity Growth Company Commingled Pool execute a collective investment trust project the. Friday that its automated phone surveillance and ATMs had begun working again, after public service outage on Thursday impacted millions of customers. Bloomberg found once they get been outperforming their conventional peers. For beginners and other brokerages to focus on the cerlox bound handout. Pricing CIBC Investor's Edge. Cibc offers investment account types, cibc is no call shortly, but only if you invest in the investments? How risky are investing. This trail include differing underwriting guidelines, product features, terms, fees, and pricing. Get rates of iron and performance over grass for CIBC Mutual Funds including savings income growth and managed. Columbia threadneedle investments typically, what is king although cse is very solid business from nps investment options are. Who Is CIBC's Self Directed Discount Broker Best for.
    [Show full text]
  • Speaker Biographies
    CIBC INVESTOR DAY SPEAKER BIOGRAPHIES Victor G. Dodig President and Chief Executive Officer, CIBC Victor Dodig is President and Chief Executive Officer of the CIBC group of companies, one of North America's largest financial services institutions. Mr. Dodig joined CIBC in 2005 as Executive Vice-President, CIBC Wealth Management. In 2007, he became Executive Vice-President, Retail Distribution, CIBC, where he led the bank’s retail banking distribution and sales teams. He was appointed Group Head, Wealth Management in 2011, taking on responsibility for the bank’s brokerage, private wealth, and asset management businesses in both Canada and the US. Mr. Dodig was named President and Chief Executive Officer and a member of CIBC's Board of Directors in September 2014. He also serves on the Board of Directors for the C.D. Howe Institute and is a member of the Catalyst Canada Advisory Board. Prior to joining CIBC, Mr. Dodig was Managing Director and Chief Executive Officer in Canada for UBS Global Asset Management. Earlier in his career, he spent five years as Managing Director in Canada, the US and the UK for Merrill Lynch and Company, where he gained international experience, following three years as a Management Consultant with McKinsey and Company. Mr. Dodig is a past recipient of Canada's Top 40 Under 40™ award. He holds an MBA from Harvard University where he was a Baker Scholar, and a Bachelor of Commerce from the University of Toronto (St. Michael's College). He also holds a Diploma from the Institut d'études politiques in Paris. CIBC INVESTOR DAY SPEAKER BIOGRAPHIES Kevin Glass Senior Executive Vice-President and Chief Financial Officer, CIBC Kevin Glass has overall responsibility for financial, management and regulatory reporting; maintenance of accounting records; financial analysis and planning; tax planning and compliance; Treasury; and liaising with CIBC investors.
    [Show full text]
  • Global-Crossing-Complaint.Pdf
    THE GLOBAL CROSSING ESTATE REPRESENTATIVE, FOR ITSELF AND AS THE LIQUIDATING TRUSTEE OF THE GLOBAL CROSSING LIQUIDATING TRUST, By Special Litigation Counsel, ENTWISTLE & CAPPUCCI LLP 299 Park Avenue, 14'~Floor New York, New York 10171-1499 (2 12) 894-7200 Andrew J. Entwistle (AE-65 13) Harold F McGuire, Jr. (HM-2440) Arthur V. Nealon (AN-0629) William W. Wickersham (WW-5501) Helen Chung (HC-3552) Peter Morgenstern (PM-5021) BRAGAR WEXLER EAGEL & MORGENSTERN, LLP 885 Third Avenue, Suite 3040 New York, New York 10022 (212) 308-5858 Of Counsel with respect to claims against Continental Casualty Company UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK X GLOBAL CROSSING ESTATE : 04 Civ. 2558 (GEL) REPRESENTATIVE, FOR ITSELF AND AS THE LIQUIDATING TRUSTEE OF THE GLOBAL CROSSING LIQUIDATING TRUST, Plain tiff, GARY WINNICK, LODWRICK COOK, DAN J. COHRS, JACK M. SCANLON, JOSEPH P. CLAYTON, THOMAS J. CASEY, DAVID A. WALSH, S. WALLACE DAWSON, JR, JOSEPH P. PERRONE, GKW UNIFIED HOLDINGS LLC, THE WIMYICK FAMILY FOUNDATION, INC., ANDERSEN WORLDWIDE S.C., ARTHUR ANDERSEN LLP, MARK FAGAN, JOSEPH F. BERARDINO, THOMAS L. ELLIOTT, ANTHONY J. AMORUSO, SCOTT TAUB, BENJAMIN NEUHAUSEN, CARL E. BASS, AMY RIPEPI, JOHN STEWART, EDMUND JENKINS, DORSEY L. BASKIN, JR., MICHAEL CROOCH, KEN RIGELSFORD, RICK PETERSON, ROBERT HODGKINSON, ROS LINDSEY, ISOBEL SHARP, HAZEL POWLING, THOMAS HOEY, ODNAL L. WEEKS, CITIGROUP, INC., JACK GRUBMAN, MICHAEL CARPENTER, KEVIN MCCAFFREY, THE GOLDMAN SACHS GROUP, INC., MORGAN STANLEY DEAN WITTER, THE BEAR STEARNS COMPANIES, INC., PACIFIC CAPITAL GROUP, PCG TELECOM, ULLICO, INC., MRCO., INC., CANADIAN IMPERIAL BANK OF COMMERCE, CIBC WOOD GUNDY CAPITAL (SFC) INC., CIBC OPPENHEIMER CORP., CIBC WORLD MARKETS CORP., and CONTINENTAL CASUALTY COMPANY, Defendants.
    [Show full text]
  • Superintendent's Register / Registre Du Surintendant
    SUPERINTENDENT'S REGISTER / REGISTRE DU SURINTENDANT September 22, 2021 / le 22 septembre, 2021 BANKS / BANQUES LIRA/CRI LIF/FRV BANK OF NOVA SCOTIA (See Bank of Nova Scotia Trust Co. (Scotiatrust)/Voir Societe de Fiducie Banque de Nouvelle-Ecosswe) X X CANADIAN IMPERIAL BANK OF COMMERCE (see CIBC Trust Corporation/Voir Compagnie Trust CIBC) X X CANADIAN WESTERN BANK X CONCENTRA BANK X X HSBC BANK CANADA X TANGERINE BANK X X NATIONAL BANK FINANCIAL GROUP X CREDIT UNIONS / CREDIT UNION ET CAISSES POPULAIRES LIRA/CRI LIF/FRV Central 1 Credit Union X X • Aldergrove Credit Union X X • Bulkley Valley Credit Union X X • CCEC Credit Union X X • Columbia Valley Credit Union X X • Compensation Employees Credit Union X X • Creston & District Credit Union X X • Cumberland & District Credit Union X X • East Kootenay Community Credit Union X X • Enderby & District Credit Union X X • First Credit Union X X • First West Credit Union X X • Fisgard Capital Corporation X X • Grand Forks District Savings Credit Union X X • Greater Vancouver Community Credit Union X X • Gulf and Fraser Credit Union X X • Heritage Credit Union X X • Integris Credit Union X X • Khalsa Credit Union X X • Kootenay Savings Credit Union X X • Ladysmith & District Credit Union X X • Lake View Credit Union X X • Mount Lehman Credit Union X X • Nelson & District Credit Union X X • Northern Savings Credit Union X X • North Peace Savings Credit Union X X • Osoyoos Credit Union X X • Revelstoke Credit Union X X • Salmon Arm Savings Credit Union X X Superintendent's Register / Registre du Surintendant 1 of 9 CREDIT UNIONS / CREDIT UNION ET CAISSES POPULAIRES (cont) LIRA/CRI LIF/FRV • Sharons Credit Union X X • Spruce Credit Union X X • Summerland & District Credit Union X X • Sunshine Coast Credit Union X X • Union Bay Credit Union X X • V.P.
    [Show full text]
  • Advisor Managed Accounts: February 2021 Commentary
    CIBC WOOD GUNDY BLUE HERON ADVISORY GROUP www.blueherongroup.ca I 250 361-2284 [email protected] ADVISOR MANAGED ACCOUNTS: FEBRUARY 2021 COMMENTARY February continued the fretful trend of January but with overall better performance from equity markets. We have gone from worried that the market will never recover to the anxiety that the recovery will be too robust and lead to higher inflation and interest rates. We would like to actually see the recovery before deciding upon whether it has inappropriate vigor. We tend to be trend followers rather than trend leaders so this period in the doldrums – lacking in defined direction and strength – is absolutely no fun. This is the sort of unsettled and fickle market that punishes the swift and decisive. We feel compelled to move a little slower and to watch a lot closer. Our models currently look upon equity markets as very favorable but the forefront of that rosy backdrop is very unsettled, bubbling and roiling. We are following our rules, exercising discipline but mostly watchfully waiting. Watchfully waiting may be the theme of both our lives, the economy and the market through the end of the summer as we await for vaccine supply and delivery to lead us out of lockdown and into a somewhat uncertain reopening. Much like how the pandemic downturn was distributed unevenly to sectors of the economy we can expect similar unevenness in recovery. We are again reminded that the economy and the stock markets do not move in lock step and so we can experience market strength and weakness that would not be dictated by what the economy is presently experiencing.
    [Show full text]
  • Canadian Privacy Policy Revised March 2021
    Canadian privacy policy Revised March 2021 Your privacy is protected Your privacy is important to us: You have chosen CIBC to provide your financial services. We value the trust and confidence you place in us. At CIBC, protecting the privacy and confidentiality of your personal information is very important to us and an integral part of our commitment to service excellence. To help us meet this commitment to you, CIBC has appointed a Chief Privacy Officer to oversee CIBC’s privacy practices and this policy. Your privacy is important to you: We encourage you to read this privacy policy so that you can understand how we collect, use, share and protect your personal information and how you can manage your information in a way that best suits you. To help you understand our privacy policy, here are some important terms you should know. Important terms • Personal information” or “information” means information about an identifiable individual such as contact information, account numbers or details, such as age, marital status and financial information. This information can be in any form including paper, electronic, audio, video or biometric, such as voiceprints, photographs and signatures. This information can also include information collected through digital activities, such as device model, browser type and IP address. • “CIBC,” “we,” “our” or “us” means collectively Canadian Imperial Bank of Commerce and its Canadian affiliates that offer deposits, loans, mutual funds, securities trading, portfolio management, investment counseling, mortgages, credit cards, trust services, insurance and other products or financial products and services, including Simplii Financial. • “CIBC Foreign Affiliates” means CIBC’s businesses, affiliates, subsidiaries and branches of CIBC located outside of Canada, such as CIBC Bank USA.
    [Show full text]
  • Finance Recruit: Careers in Banking
    Finance Recruit: Careers in Banking Financial Planner / Investment Advisor (from CMC’s “Careers in Business” Guide) Financial Planning and Investing The terms “Financial Planner” and “Financial Advisor” will be used interchangeably, although the meaning of these titles can vary somewhat from one financial services setting to another. Financial Planners work with clients to plan and achieve certain financial goals. Financial Planners offer a variety of services such as analyzing client assets, liabilities and cash flow, current insurance coverage, investments, or tax strategies. After recommendations have been set by the planner they will either follow through or coordinate the process between the client and other professionals like attorneys. Depending how long the relationship lasts, Financial Planners usually meet with clients yearly or after any life changes like marriage, disability, or retirement. Much of a personal financial advisor’s time is taken up by marketing, as it is very important to build a strong client base by word of mouth referrals. Planners have to make sales calls, and some even give seminars or lectures to potential clients to market their services and expertise. Financial Advisors can either work for financial services firms or independently. They can also specialize in a number of areas such as retirement and estate planning or risk management. To work as a Financial Advisor, a bachelor’s degree in accounting, finance, economics, business, mathematics, or law is recommended. In Canada, Financial Planners also need certain credentials such as the Canadian Securities Course (CSC) and Personal Financial Planner (PFP), which are administered through the Canadian Securities Institute. Another useful credential is the Certified Financial Planner (CFP), which is administered by the Certified Financial Planner Board of Standards, and requires a bachelor’s degree, three years of relevant experience, passing an examination, and adherence to the organization’s code of ethics.
    [Show full text]
  • Macro View Canadian Markets U.S. Markets
    INVESTMENT STRATEGY GROUP MARKET BEAT Monday, January 04, 2021 MACRO VIEW Market Indicators Index Level* Change YTD YTD (C$) The TSX (+0.7%) is higher helped by a rising energy sector while Wall S&P/TSX 17,547.87 0.66% 0.7% 0.7% Street's main indices are modestly lower after hitting a record high S&P 500 3,740.87 -0.40% -0.4% -0.3% earlier in the trading session. West Texas Intermediate crude oil (- NASDAQ 12,879.06 -0.07% -0.1% 0.0% 0.2%) prices are slightly down, while OPEC meets to discuss capping Dow Jones 30,324.83 -0.92% -0.9% -0.9% output at current levels in February, as COVID-19 keeps worries about Nikkei 225 27,258.38 -0.68% -0.7% -0.6% demand elevated. Gold (+2.2%) prices started the new year by Euro Stoxx 50 3,581.81 0.82% 0.8% 1.3% surpassing the key US$1,900 level, as rising COVID-19 cases have FTSE EM 2,700.64 1.16% 1.2% 1.1% investors turning to the metal. North American bond yields have steadied in morning trade with the U.S. 10-year at 0.93%, and the Canadian Market Movers Canadian 10-year at 0.68%. The Canadian dollar strengthened against the greenback as oil prices climb and domestic data showed factory BPY-U Brookfield Prope 16.2% activity expanding in December at its fastest pace on record. WEED Canopy Growth Co 8.8% Canadian factory activity grew at its fastest pace on record in K Kinross Gold 7.1% Decembe r as new orders and production expanded, while manufacturers ABX Barrick Gold Crp 6.8% remain optimistic that output would continue to rise.
    [Show full text]
  • Macro View Canadian Markets
    INVESTMENT STRATEGY GROUP MARKET BEAT Monday, July 13, 2020 MACRO VIEW Market Indicators Index Level* Change YTD YTD (C$) The TSX (+0.5%) edged higher on positive economic data while Wall S&P/TSX 15,784.28 0.45% -7.5% -7.5% Street's main indices gained following an upbeat start to Q2 earnings. S&P 500 3,213.79 0.90% -0.5% 3.7% West Texas Intermediate crude oil (-0.8%) prices dipped on demand NASDAQ 10,772.12 1.46% 20.1% 25.1% concerns after a record daily rise in global COVID-19 cases over the Dow Jones 26,413.82 1.30% -7.4% -3.5% weekend, with traders waiting for an OPEC meeting expected to reduce Nikkei 225 22,784.74 2.22% -3.7% 1.7% output. Gold (+0.5%) prices rose, and are trading above the key Euro Stoxx 50 3,336.87 1.23% -10.9% -5.9% US$1,800/oz level, supported by a declining dollar and worries over FTSE EM 2,277.85 0.82% -1.4% 2.7% surging COVID-19 cases. North American bond yields rose with the U.S. 10 -year at 0.65%, and the Canadian 10-year at 0.58%. The Canadian Canadian Market Movers dollar strengthened against the greenback as stock markets rallied and ahead of an interest rate decision from the Bank of Canada. SJR/B Shaw Comm-B 5.5% Canadian producer prices gained 0.4% in June from May, TECK/B Teck Resources-B 3.5% primarily on higher prices for energy and petroleum products, that NTR Nutrien Ltd 2.8% jumped 11.7%, however, excluding energy and petroleum products, the K Kinross Gold 1.6% industrial product price index fell 0.6% on lower prices for recreational FM First Quantum 1.6% vehicles, electronics and pulp and paper products.
    [Show full text]