Canadian workers are feeling increasingly stressed in the workplace, and it’s largely due to the recession, according to survey results released by Desjardins Financial Security. The survey of 1,062 workers found that many Canadians feel they have lost control of their lives, which is exacerbated by reports of job losses across the country. One-third of […]
Small cap fund managers posted better performance than their large cap colleagues in the first quarter of 2009, according to the latest Russell Active Manager Report. Small cap funds posted a median return of -1%, while large cap managers posted a median return of -2.7%. The outperformance can be largely attributed to the business sectors […]
A new association representing the interest of the Canadian securities lending industry — the Canadian Securities Lending Association (CASLA) — was officially launched on Monday. The group is a combined creation of CIBC Mellon, Northern Trust, RBC Dexia and State Street Corporation — the four firms that dominate securities lending in Canada. The co-founding companies […]
The gap between pension fund assets and liabilities grew in the last half of 2008, as deteriorating market conditions slashed investment portfolios, according to the latest solvency tests by the Office of the Superintendent of Financial Institutions. As at Dec. 31, 2008, the average estimated solvency ratio for federally regulated defined benefit private pensions was […]
The signs of economic apocalypse are everywhere: job cuts measured in the tens of thousands; residential foreclosure rates rising; and stock markets bouncing along at multi-year lows. But now there are signs of renewed investor optimism. In fact, investors appear to be in the best mood since December 2005, according to the latest Merrill Lynch […]
The bull market for bonds may be on its last legs already, as governments the world over will soon tap the debt markets to fund stimulus packages aimed at shortening the global recession. The flood of newly available sovereign debt will drive down the value of existing bonds by correcting the current supply-demand imbalance. “Sovereign […]
The near-collapse of the American financial system, and the global economic downturn it has caused, have proven the risks associated with lax corporate governance, yet many Canadian investment firms are doing little to hold management’s feet to the fire, according to a study on proxy voting. The eighth annual Key Proxy Vote Survey, conducted by […]
The Pan-Canadian Investors Committee for Third-Party Structured Asset-Backed Commercial Paper has announced the full implementation of its restructuring plan, which should thaw about $32 billion in frozen third-party ABCP. “We are delighted to announce the successful completion after nearly a year-and-a-half of arduous negotiations, legal challenges and compromise during ever-changing credit market conditions,” said Purdy […]
The worst period for Canadian equity returns in generations may already be over, but recovery will depend on whether North America launches a credible fiscal stimulus package in the coming weeks, notes a new CIBC World Markets report. “The bad news is that we are in a recession, and a fairly deep one at that. […]
The Bank of Canada has slashed its key overnight lending rate by 75 basis points, to 1.5%. The Bank rate has been adjusted accordingly to 1.75%. Many Bank watchers had been anticipating a cut of just 50 basis points. “The outlook for the world economy has deteriorated significantly and the global recession will be broader […]