Financial News · Live Terminal

US Treasury Closing Levels

3:00 Tuesday vs 3:00 Monday2yr 99-31 vs 100-01; 4.137% vs 4.107%5yr 99-23 vs 99-29; 4.186% vs 4.142%10yr 99-20+ vs 99-31+; 4.418% vs 4.374%30yr 101-16 vs 102-06; 4.901% vs 4.859%2/10 28.048 bps vs 26.588 bps5/30 71.430 bps vs 71.490 bps

PesoRama Gets Approval to List Its Convertible Debentures on the TSX Venture Exchange

PesoRama (PESO.V) on Tuesday said the TSX Venture Exchange granted the company the final approval for the listing of its 9.0% senior unsecured convertible debentures on the exchange.The debentures mature on June 18, 2029, and bear an annual interest rate of 9.0%. The company expects trading of the debentures to start trading on or about July 3, under the trading symbol "PESO.DB".The debentures are convertible into PesoRama shares priced at C$0.91.Shares of the company were last seen up C$0.01, or 1.9%, to C$0.54 on the TSX Venture Exchange.Price: $0.54, Change: $+0.01, Percent Change: +1.89%

$PESO.V

Great-West Lifeco Prices 500-Million Euro Bonds Offering

Great-West Lifeco (GWO.TO) has priced its 500 million euro bonds offering, the company said on Tuesday.The seven-year bonds will pay an annual coupon of 3.625% and are priced at 99.575% of par. They are expected to be rated A+ by S&P Global Ratings and A by Fitch Ratings, a statement said.The offer is expected to close on July 7. Great-West will apply for the bonds to be listed on the Global Exchange Market of the Irish Stock Exchange.Proceeds will be used for general corporate purposes, and may include redeeming Great-West's 500 million euro bonds maturing in December 2026.This is the company's fourth debt issue in the euro market.Great-West shares were last seen up $1.48, 0r 1.7%, to $90.18, on the Toronto Stock Exchange.Price: $90.18, Change: $+1.46, Percent Change: +1.65%

$GWO.TO

April's Stronger Real GDP Suggest Canada's Better Transition to Q2, Economists Say

April's stronger-than-expected real gross domestic product figures indicates a better transition to the second quarter with Q2 growth now tracking above an annualized pace of 2%, TD Economics wrote in a note."Zooming out, that leaves the first-quarter stumble looking more like a temporary soft patch than the start of a deeper downturn, broadly in line with the Bank of Canada's view that growth should resume in Q2 even if the economy remains in excess supply," said economist Marc Ercolao.This reading should help deflate the recent "technical recession" narrative, Ercolao said.Real GDP grew 0.5% in April, Statistics Canada said on Tuesday, following a 0.1% contraction in March. The consensus on Investing.com was for 0.4%. An advance estimate for May projected growth of 0.1%, StatsCan said.Canada's economy never entered any "credible" definition of recession, but growth is rebounding in Q2, wrote Scotiabank's Derek Holt, head of capital markets economics."This offers a nice set-up for the Bank of Canada's wholesale forecast reset in the July 15th MPR and following next week's BoC surveys that are likely to show higher inflation expectations," Holt said. The central bank will release its latest monetary policy report, or MPR, later this month.Holt calculated that Q2 GDP is tracking a gain of 2.3% quarter-on-quarter on a seasonally adjusted annual rate and could even round up to 2.4%, the strongest growth since Q3 2025, using monthly production-side GDP accounts.BMO's Douglas Porter said the rebound is "especially encouraging." Still, in a note Tuesday he said that "output is still up only a little more than 1% from a year ago, which is below potential and still more consistent with monetary policy biased to ease rather than to tighten."

Municipal Bond Offerings This Week Hit With High Flood and Physical Risk Scores

Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high flood and physical risk scores, according to ICE Climate Data.A $5 million offering from Floyd County School District, Kentucky, records a flood risk score of 5.0 out of 5.0, ICE reports. Locations with a component Physical Climate Risk Score, which includes flood, wildfire and hurricane, of 2.0 or higher out of 5.0 indicate high physical climate risk due to hurricane, flooding, or wildfire events.A $7 million bond deal from Vista MUD, Texas, has a combined physical risk score of 3.1 out of 5.0 on ICE's scale, while a $13 million tranche from Bangor Area School District, Pennsylvania, records a combined physical risk score of 2.6.Elsewhere, a $12 million offering from Massapequa Union Free School District, New York, records an acute physical risk score of 2.9, and a $16 million deal from Woodside Elementary School District, California, has an acute physical risk Score of 2.2, due to their proximity to weather-related events, according to ICE Climate Data.This content is created byand includes certain data sourced from ICE Climate Data ("ICE"). Views ofdo not necessarily represent the views of ICE. ICE is not a nationally registered statistical rating organization, nor should this commentary be construed to constitute an assessment of the creditworthiness of any company or financial instrument or as providing investment advice. Climate analytics available from ICE are meant to be generally indicative of overall feature sets but should not be considered an analyst's opinion of the underlying investability of a particular location or security.The ICE Climate Risk Score is a singular, 0.0-5.0 assessment score that blends all the ICE Spatial Intelligence Platform's climate hazard models together into one rigorous, relative measure of total property risk from physical climate hazards to a given location or set of locations related to the investment. To learn more about the ICE Climate Risk Data, visit: ICE Sustainable Finance Data (https://www.ice.com/data-services/sustainable-finance-data/disclaimer)

Canada's Economy Expands 0.5% in April on Strength in Goods-Producing Industries

Real gross domestic product (GDP) grew 0.5% in April, after contracting 0.1% in March, reports Statistics Canada.Goods-producing industries rose 1.2% in April, helped by mining, quarrying, and oil and gas extraction. The sector jumped 2.9% in April, the largest monthly growth rate since February 2024's 3.2%, more than offsetting March's 1.4% contraction.Services-producing industries edged up 0.3%, the third monthly increase in a row. StatsCan said the increase was due to growth in the public sector and transportation and warehousing.Overall, 14 of the 20 industrial sectors advanced in April, the agency reported.The manufacturing sector rose 0.6% in April, while the construction sector edged up 0.7%, reversing four consecutive monthly declines.StatsCan estimates real GDP by industry increased 0.1% in May. This estimate will be updated on July 31.

StatsCan Advance Estimate Shows May Real GDP Rose 0.1%

April Real GDP Grew 0.5%, After 0.1% Contraction in March, Says StatsCan

BMO Expects Canada's April GDP to Rise 0.3%

Statistics Canada is releasing Canadian real gross domestic product figures for April at 8.30 am today and BMO Capital Markets is calling for a 0.3% expansion for the month of April, the bank said in a note.According to senior economist Shelly Kaushik, the 0.3% expansion in real GDP for April, is "a tenth softer" than StatCan's flash estimate but would still be the highest monthly growth rate since July 2025.Despite solid manufacturing volumes, and increased activity in other sectors such as mining and oil and gas and transportation and warehousing as indicated by StatsCan, downside risks persist."Overall, a decent result would suggest better underlying momentum in the economy after the modest contraction in Q1," BMO said.

US Treasury Closing Levels

3:00 Monday vs 3:00 Friday2yr 100-01 vs 100-02; 4.107% vs 4.086%5yr 99-29 vs 99-31; 4.142% vs 4.128%10yr 99-31+ vs 100-00+; 4.374% vs 4.371%30yr 102-06 vs 102-03+; 4.859% vs 4.864%2/10 26.588 bps vs 28.249 bps5/30 71.490 bps vs 73.378 bps

Supreme Court Denies Trump Bid to Immediately Fire Fed's Lisa Cook

The US Supreme Court on Monday upheld a federal court's injunction preventing President Donald Trump from firing Federal Reserve Governor Lisa Cook before the conclusion of litigation."To be clear, the ultimate question of whether the President can remove Cook for cause will depend in part on the underlying facts," Chief Justice John Roberts said in his written opinion of the court. "In this opinion, we have not addressed the facts, as they have yet to be found or analyzed under the relevant legal standards. Rather, we have simply addressed the parties arguments about the appropriate legal standards under which the facts must be evaluated. The application for a stay is denied."

Supreme Court Denies Trump Bid to Immediately Remove Fed Governor Lisa Cook

Scotiabank Expects Another Monthly Gain in Canada's May GDP

Statistics Canada's preliminary estimate for May GDP is expected to show another monthly gain after an advance estimate pointed to 0.4% month-over-month growth in April, Scotiabank said in a note."As for May's preliminary estimate, I'm tracking another gain based on more limited readings. Hours worked were up by 0.6% m/m SA which is a solid plus given that GDP is hours worked times labour productivity," writes Head of Capital Markets Derek Holt. "In determining the latter, we can look to some of the activity readings including Statcan's advance guidance for several readings albeit with uncertainty over how the nominal guidance translates into volumes and how volumes line up with value-added GDP."Holt suggests that 2.25% q/q seasonally adjusted annual rate growth in Q2 is a possibility, but "that's very tentative until we see April and May tomorrow and with little to nothing to go by for June thus far".

Treasury42d ago

US Treasury Closing Levels

3:00 Friday vs 3:00 Thursday2yr 100-02 vs 100-00; 4.086% vs 4.119%5yr 99-31 vs 99-26+; 4.128% vs 4.162%10yr 100-00+ vs 99-27; 4.371% vs 4.390%30yr 102-03+ vs 102-06+; 4.864% vs 4.858%2/10 28.249 bps vs 26.931 bps5/30 73.378 bps vs 69.473 bps

Treasury42d ago

National Bank's Weekly Economic Watch

Canada's Consumer Price Index in May rose 0.95% in non-seasonally adjusted terms, following a 0.36% increase in April, and above consensus expectations of a 0.8% increase, National Bank's weekly economic monitor reports.In seasonally adjusted terms, prices edged up 0.48% in May after advancing 0.36% in April. On an annual basis, headline inflation accelerated from 2.8% in April to 3.2% in May, the highest level since September 2023.April's GDP data will be released next Tuesday. National Bank expects economic output to have grown 0.4% during the month.

Treasury43d ago

Wholesale Sales Estimated to Slip in May, Led by Machinery, Equipment Weakness, StatsCan Says

Canada's wholesale sales are estimated to have slipped in May, with declines partly driven by weaker activity in the machinery, equipment and supplies sector, according to the country's statistical agency.Wholesale sales, excluding oil, oil products and other hydrocarbons and excluding oilseed and grain, are estimated to shed 0.7% month-on-month in May, Statistics Canada said in its advance estimate on Friday.This estimate is based on a 70.4% weighted response rate, below the 12-month average final response rate of 82.9%, added StatsCan.

Treasury43d ago

Angus Reid Survey Shows Housing Affordability Now a National Concern in Canada

The vast majority of Canadians, or 70%, consider local home prices to be high, either unreasonably or understandably so, compared with a decade ago, when opinions were more evenly split between those who viewed prices as reasonable and those who viewed them as unreasonable, the Angus Reid Institute said Friday.Ten years ago, housing affordability was primarily an issue in Vancouver and Toronto, but it has since become a national concern, according to the survey.The most notable shift has been in previously more affordable cities such as Calgary, Winnipeg, Montreal and Halifax, where perceptions that homes are overvalued have increased significantly, Angus Reid said. Overall, 43% of respondents described home prices in their neighbourhoods as unreasonably high, while only 18% considered them reasonable.Affordability pressures are also evident in household finances, with more than one-third of Canadians reporting financial difficulties. That figure rises to 45% among renters and is highest among lower-income households, according to Angus Reid.