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☆ Active vs. Passive ETFs: How They Stack Up
▼ + stars: | 2023-06-30 | by ( Derek Horstmeyer | ) www.wsj.com time to read: 1 min

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OTTAWA, June 7 (Reuters) - The Bank of Canada on Wednesday hiked its overnight rate to a 22-year high of 4.75%, and markets and analysts immediately forecast yet another increase next month to ratchet down an overheating economy and stubbornly high inflation. Noting an uptick in inflation in April and the fact that three-month measures of core inflation remained high, the Bank of Canada (BoC) said that "concerns have increased that CPI inflation could get stuck materially above the 2% target." However, Canada Finance Minister Chrystia Freeland said the economic rebound from the COVID-19 pandemic and Russia's invasion of Ukraine has been stoking price increases. "To bring demand lower, which is the bank's goal to achieve their 2% inflation target, we just simply need more tightening." The BoC said it would continue to assess economic indicators going forward to see if they "are consistent with achieving the inflation target."

Persons: Derek Holt, Paul Beaudry, Canada's, Pierre Poilievre, Justin Trudeau, Chrystia Freeland, Andrew Kelvin, Steve Scherer, David Ljunggren, Fergal Smith, Divya Rajagopal, Nivedita Balu, Mark Porter Organizations: OTTAWA, Bank of Canada, Wednesday, Canadian, Scotiabank, BoC, Conservative Party, Liberal, Canada Finance, TD Securities, Thomson Locations: British Columbia, Ukraine, Canada, Toronto

OTTAWA, May 16 (Reuters) - Canada's annual inflation rate rose in April for the first time in 10 months, data showed on Tuesday, adding pressure on the central bank to raise interest rates again after having paused its tightening campaign since January. Annual inflation unexpectedly rose to 4.4% in April, Statistics Canada said. Higher rent and mortgage interest costs contributed the most to the annual inflation rate in April, Statscan said. The higher interest rate environment may have contributed to rising rents by stimulating higher rental demand, the agency said. Excluding food and energy, prices rose 4.4% compared with a rise of 4.5% in March.

☆ Beware, Options Investors: You Pay a High Trading Price Compared With Stocks
▼ + stars: | 2023-04-07 | by ( Derek Horstmeyer | ) www.wsj.com time to read: 1 min

When financial markets are volatile, many investors head to the options market, either for downside protection or to make a bet on which way things could be heading. With this in mind, we decided to test just how costly it is to trade options, which give the holder either the right to buy or the right to sell an asset at a set price within a given amount of time.

BENGALURU, April 6(Reuters) - The Bank of Canada will keep its key interest rate steady at 4.50% through 2023, according to most economists polled by Reuters, with an even smaller minority now expecting an interest rate cut by year-end than a poll taken a month ago. In March, the BoC was the first major central bank to stop its aggressive hiking cycle and is on what it calls a conditional pause. So all 33 economists polled March 31-April 6 said it will hold its overnight rate at 4.50% on April 12. A majority of forecasters, 23 of 31, said the rate would remain unchanged for the rest of 2023. Only seven expected at least one 25-basis-point rate cut by end-year, down from 13 in a survey taken about a month ago.

☆ VIEW Canada's economy unexpectedly stalled in Q4; January rebound likely
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +3 min

TORONTO, Feb 28 (Reuters) - The Canadian economy recorded no growth in the final three months of 2022, massively underperforming expectations, though economic activity likely rebounded with a 0.3% increase in January, Statistics Canada data showed on Tuesday. "Even with the January rebound, however, Q4 and Q1 combined seem likely to average slightly below the Bank of Canada's prior forecasts which supports the current pause in terms of interest rates." It'll be a short and sweet statement saying that they're still on a conditional hold and evaluating the lagging effects. They'll want to see a whole lot more data before they're convinced that they're either done and/or that they're going to act again." ROBERT BOTH, MACRO STRATEGIST, TD SECURITIES"It is a pretty large miss on Q4.

The jobless rate held steady at 5%, which is just a decimal point higher than the record low, Statistics Canada (Statscan) said. Analysts surveyed by Reuters had forecast a net gain of 15,000 jobs and for the unemployment rate to edge up to 5.1% in January. "However, that won't stop markets reacting to today's strong data by pricing in a greater probability of further hikes, and pricing out rate cuts," he said. Before the jobs numbers, markets had been betting that the Bank of Canada's next move would be to cut rates. When he announced a pause on rates, Governor Tiff Macklem said it was "conditional" and did not rule out further increases.

That prompted the central bank to pause its most aggressive tightening cycle for now, becoming the first major central bank to do so. Traders have already bid up Canadian stocks and the Canadian dollar , dubbed a 'commodity currency', since the news of China reopening surfaced in December. Doug Porter, chief economist at BMO Capital Markets, said that for Canada, China's reopening is more a "clear-cut positive" than it would be for other countries with fewer commodities exports. The U.S. Federal Reserve, the European Central Bank and the Bank of England have since laid the groundwork for a pause as well. Karl Schamotta, chief market strategist at Corpay said China's reopening will help put a floor under global price levels, potentially offsetting demand destruction as economies slow.

☆ How Much More Tax-Wise Are ETFs vs. Mutual Funds?
▼ + stars: | 2023-02-04 | by ( Derek Horstmeyer | ) www.wsj.com time to read: 1 min

ETFs offer a slightly better posttax return on average—but it can add up over time. Investors often hear that because of tax-efficient structural features, exchange-traded funds generally offer better after-tax returns than mutual funds. But many don’t know the exact magnitude of those tax savings. It is not insignificant.

☆ 'P.R. job' or antidote to 'groupthink'? Bank of Canada to offer policy-meeting minutes
▼ + stars: | 2023-01-22 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

Annual inflation shot to 8.1% in June, the highest in 39 years and four times the Bank of Canada's 2% target. On the recommendation of the International Monetary Fund, the BoC in September said it would release minutes to improve transparency,Other central banks including the U.S. Federal Reserve, the Bank of England and the European Central Bank already provide some form of record of their meetings. "The big enemy for policymakers and investors is groupthink," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC. JOB'Other market-watchers say releasing minutes is more an exercise in public relations than an effort to boost transparency. Reuters GraphicsReuters GraphicsReporting by Steve Scherer, additional reporting by Fergal Smith, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

☆ Which Mutual Funds Are Good for Your Taxes?
▼ + stars: | 2023-01-09 | by ( Derek Horstmeyer | ) www.wsj.com time to read: 1 min

How tax-efficient is your mutual fund? That is a question many investors wonder about, and they often assume that the easiest way to answer it is to look at the fund’s turnover. Investors often figure that high turnover means less tax efficiency, because more trading means more taxable capital gains. A study of returns for dollar-denominated funds that I conducted with my research assistants found that turnover isn’t a reliable predictor of tax inefficiency for all funds. Indeed, we found that in the fixed-income sector, high-turnover funds are the most tax-efficient.

OTTAWA, Dec 21 (Reuters) - Canada's annual inflation rate eased to 6.8% in November as gasoline price rose more slowly, data showed on Wednesday, leaving the door open for another interest rate increase in January. Consumer prices rose 0.1% from October, Statistics Canada said, above analysts' expectations they would be flat. Excluding food and energy, prices rose 5.4% versus a 5.3% gain in October. "Today's data will leave the door open to a 25 basis point rate hike in November," said Royce Mendes, head of macro strategy at Desjardins Group. Gasoline prices rose 13.7% after gaining 17.8% in October, largely driven by price declines in Western Canada, Statscan said.

The central bank sets short-term interest rates but longer-term borrowing costs, such as for businesses and some mortgage rates, are determined by the bond market. Canadian bond yields, like U.S. bond yields, have tumbled since October as investors anticipate that the tightening cycle is nearing an end and the central bank is poised to shift to cutting rates next year. Bond yields, along with other measures, such as the strength of the stock market and the currency, help determine financial conditions, or the availability of funding in the economy. Since October, Canada's 5-year yield has tumbled nearly 100 basis points and the Toronto stock market (.GSPTSE) has rallied 11%. "Otherwise, we could be on an inflation and rates roller-coaster for years to come that is biased toward higher average inflation."

☆ Len Goodman announces his ballroom departure from 'Dancing With the Stars'
▼ + stars: | 2022-11-14 | by ( Megan Thomas | ) edition.cnn.com time to read: +1 min

CNN —“Dancing With the Stars” head judge Len Goodman announced he’ll be retiring from the show. “This will be my last season judging ‘Dancing With the Stars,’” Goodman said during Monday’s episode of the ballroom dance competition. “It’s been such a wonderful experience for me and I look forward so much to next week’s finale. I’m sure it’s going to be absolutely brilliant,” he said. The Season 31 finale of “Dancing With the Stars” will air Monday, November 21 on Disney+.

☆ ‘Dancing with the Stars’ has a double elimination night
▼ + stars: | 2022-11-08 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —Two pairs of partners were sent home Monday night on “Dancing with the Stars.”The theme of the episode was ’90s night. Vinny Guadagnino and Trevor Donovan performed a samba, judged by Carrie Ann Inaba, who gave the five points to Donovan. Bruno Tonioli judged Heidi D’Amelio and Brady’s performances, with Tonioli choosing Brady. Charli D’Amelio and Windey danced a salsa judged by Hough, who gave the five points to D’Amelio. Donovan and partner Emma Slater ended up in the bottom two with Guadagnino and partner Koko Iwasaki.

Instead, "the onus is still squarely, fully, 100% on the Bank of Canada to tighten," he said. The BoC's policy rate is seen peaking at 4.5% in early 2023. "I think they're going to struggle to see any improvement in the coming fiscal year," said Doug Porter, chief economist at BMO Capital Markets, adding that the fiscal measures were working at a slight crosscurrent to monetary policy. The fact that Prime Minister Justin Trudeau's government depends on the left-leaning New Democrats to pass legislation like the fiscal update helps explain the new spending, said Jimmy Jean, chief economist at Desjardins. ($1 = 1.3499 Canadian dollars)Reporting by Steve Scherer; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Canada posts blowout job gain in October, unemployment rate unchanged
▼ + stars: | 2022-11-04 | by ( Julie Gordon | ) www.reuters.com time to read: +2 min

[1/2] A help wanted sign at a store along Queen Street West in Toronto Ontario, Canada June 10, 2022. The economy added a net 108,300 jobs last month, easily beating forecasts for 10,000 new jobs, while the jobless rate was unchanged at 5.2%. The blowout gain was entirely in full-time work, spread across both the goods and services sectors. The Bank of Canada raised its policy rate by 50 basis points to 3.75% last week and said while more increases would still be needed, it was nearing the end of its tightening campaign. The core-age unemployment rate stands at 4.2%, slightly above July's record low, but in a historically tight range last seen in the 1970s.

The European common currency rose as high as$1.0048, the highest since Sept. 20, and was last up 0.5% at $1.0019. At 10:35 a.m. EDT (1435 GMT), the dollar was down 0.595% at 110.28 against a basket of six peer currencies. Fed officials have begun sounding out their desire to slow the pace of increases soon, according to a Wall Street Journal report on Friday that caused markets to reprice. The aggressive pace of Fed tightening this year, aimed at taming stubbornly high inflation, has turbo-charged the dollar. The dollar slumped more than 1.3% against China's offshore yuan , while the onshore yuan finished the domestic trading session at 7.1825 per dollar, the strongest close since Oct. 12.

☆ Canada recession may be ‘necessary evil’ as central bank queues big hike
▼ + stars: | 2022-10-20 | by ( Julie Gordon | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterThat may be just what the central bank is looking for, said analysts. Inflation in Canada edged down to 6.9% in September, below June's peak of 8.1%, though still well above the Bank of Canada's 2% target. A majority of Canadian firms, meanwhile, think a recession is now likely in the next 12 months, a Bank of Canada survey showed this week. This means the central bank will not start cutting rates until inflation is "within shouting distance" of the 1-3% control range, he said. "I don't think they necessarily are aiming for a recession," said Andrew Kelvin, chief Canada strategist at TD Securities.

☆ Canada's inflation beat boosts chances for 75-bp rate hike
▼ + stars: | 2022-10-19 | by ( Julie Gordon | ) www.reuters.com time to read: +2 min

Canadian inflation edged down to 6.9% in September, a notch ahead of forecasts of 6.8% and down from 7.0% in August. "So I think it keeps the Bank of Canada on track to deliver another so-called supersized hike." The Bank of Canada is widely expected to raise its policy rate at its next decision on Oct. 26. "I think that the Bank of Canada should hike by 75 (bp) next week," he added. On the month, Canada's consumer price index rose 0.1%, slightly ahead of forecasts that it would remain flat.

"Dancing with the Stars" season 31 is now streaming on Disney Plus. How to watch 'Dancing with the Stars'You can watch "Dancing with the Stars' season 31 exclusively on Disney Plus. Disney Plus is available to stream on mobile devices, media players, and smart TVs from most major brands. "Dancing with the Stars" received a two-season pickup when it was announced for Disney Plus, so the show will return for at least one more season after season 31 concludes. The following celebrities and dancers are all vying for the Mirrorball trophy in season 31 of "Dancing with the Stars.

Let’s say you want to save your principal—or much of it—for your children. Here’s what the numbers look like.

☆ ‘Dancing with the Stars’ elimination comes down to tie-breaking vote
▼ + stars: | 2022-09-27 | by ( Marianne Garvey | ) edition.cnn.com time to read: +1 min

CNN —“Elvis Night” on “Dancing with the Stars” was all shook up and ended in a tie-breaking vote on Monday. Alexis Warr stepped in last minute to do a Viennese waltz with Baena, and they earned a 24 out of 40. Selma Blair was a crowd pleaser, performing a routine that included a cartwheel and a split. Derek Hough and Bruno Tonioli voted to keep Giudice in the competition, while Inaba voted for Cheryl Ladd and Louis Van Amstel. Season 31 of the show, hosted by Tyra Banks and Alfonso Ribeiro, now streams Mondays on Disney+ live at 8 p.m.

"Dancing with the Stars" season 31 starts streaming September 19 on Disney Plus. How to watch 'Dancing with the Stars'You can watch "Dancing with the Stars' season 31 exclusively on Disney Plus starting September 19 at 8 p.m. Disney Plus is available to stream on mobile devices, media players, and smart TVs from most major brands. "Dancing with the Stars" received a two-season pickup when it was announced for Disney Plus, so the show will return for at least one more season after season 31 concludes. The following celebrities and dancers will all vie for the Mirrorball trophy in season 31 of "Dancing with the Stars":

"Dancing with the Stars" season 31 starts streaming September 19 on Disney Plus. The show originally ran on ABC for its first 30 seasons, before making the jump to Disney Plus. How to watch 'Dancing with the Stars'You can watch "Dancing with the Stars' season 31 exclusively on Disney Plus starting September 19 at 8 p.m. Disney Plus is available to stream on mobile devices, media players, and smart TVs from most major brands. Who is competing in 'Dancing with the Stars' season 31?

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