A partial federal government shutdown lasting through the end of this week would pare 0.2 percentage point from U.S. economic growth and cost as much as 0.5 point if it continues another two weeks, according to the median estimate in a Bloomberg survey of economists.
The Canadian dollar, the sixth worst performer against the U.S. dollar this year among major currencies, is poised to rebound on North American growth amid dwindling safe assets globally, according to panelists at the Bloomberg Canadian Fixed Income Conference.
Dundee Real Estate Investment Trust and Calloway REIT are bearing the brunt of a rout among real estate, utility and telecommunications shares as rising bond yields reduce demand for high-dividend stocks.
Bank of Canada Governor Mark Carney told lawmakers the Canadian economy stalled or shrank last quarter, sharing with Finance Minister Jim Flaherty the view that growth will rebound without further government stimulus.
Canada’s dollar rose the most in eight months on bets economic growth will fuel demand for the nation’s raw materials and Europe’s debt crisis spurred demand for currencies backed by relatively strong balance sheets.
Quebec is ramping up efforts to develop its northern region by investing in infrastructure, seeking to attract resource companies and boost royalties from increased output of minerals and hydrocarbons, Finance Minister Raymond Bachand said.
Quebec must take advantage of low interest rates to reduce its debt burden at a time when global investors are driving up borrowing costs for other indebted governments, Canada’s top bank economists said.