Following last year’s positive upswing in GDP growth and the associated windfall to government finances in Canada, many of the nation’s provincial governments have come face to face with some moderation in the economic outlook, and have launched into a phase of late-cycle fiscal stimulus. Ontario had signaled a shift in this direction...read more
Amid a backdrop of controversial tweets out of the White House, geopolitical risks and trade war angst, market volatility is surging and the potential outflow from emerging markets (EM) has heightened. In Signature’s view, both these factors – which pose the biggest risks for EM investors – are being driven by tighter global financial...read more
On May 29, 2018, the Government of Canada announced that it is prepared to purchase a variety of assets (most notably the Trans Mountain Pipeline System, including its planned expansion) for $4.5 billion from Kinder Morgan Canada (KML), which is 70%-owned by Texas-based Kinder Morgan Inc. (KMI). Certain mutual funds managed by...read more
The difference between short-term and long-term yield in the U.S. and Canada is the narrowest in a decade. The flatness of the yield curve has been the subject of financial media coverage as a recessionary sign. This article summarizes our research on the meaning and impact of a flat yield curve on financial markets.
Why a...read more
Co-author: Gorlen Zhou
As of June 2018, several onshore Chinese stocks – so-called A shares – will be included in the widely followed MSCI Emerging Markets Index and MSCI All Country World Index; but don’t be swept up by the hype and marketing gimmicks surrounding the event. The...read more