Of all the wild, unprecedented swings in financial markets since the coronavirus pandemic broke out, none has been more jaw-dropping than this collapse NEW YORK — U.S. crude oil futures turned negative on Monday for the first time in history, ending the day at a stunning minus US$37.63 a barrel as traders sold […]
OPEC deal to cut production fails to offset even greater plunge in demand for fuel Oil prices plunged on Monday as traders got caught in a desperate race to offload contracts for just about any price they could get. The price of a contract to deliver West Texas Intermediate crude oil […]
Sweden’s unusual approach to fighting the coronavirus pandemic is starting to yield results, according to the country’s top epidemiologist. Anders Tegnell, the architect behind Sweden’s relatively relaxed response to Covid-19, told local media the latest figures on infection rates and fatalities indicate the situation is starting to stabilize. “We’re on […]
Link to the original story by Kim McDermott ’87 Army Hockey Head coach Brian Riley wears two steel bracelets, one on each wrist. They bear the names of two graduates who have left an indelible mark on Riley. Leaving legacies to the program, and to the nation, were Major Thomas […]
Turn the key and the economy will restart. That’s a myth a lot of people in the mainstream have peddled since governments started shutting down the economy in response to the coronavirus pandemic. That’s not going to happen. We’re not going back to normal. In fact, things weren’t “normal” before […]
Central bank holds rate and will start buying up to $50 billion in provincial debt, and up to $10 billion of corporate bonds The International Monetary Fund earlier this week observed that forecasting accurately during the coronavirus crisis is an extremely uncertain undertaking, but it still published an outlook that […]
Canadian housing once seemed so infallible that the head of the world’s biggest asset manager in 2015 described Vancouver condos as a better store of wealth than gold. The coronavirus is putting that theory to the test. While lockdowns, job losses and uncertainty are roiling property markets from the U.K. […]
Global policy-makers shoved pandemic risk aside and spread climate alarm instead One of the noble houses of global macroprudentialism, the International Monetary Fund, declared Tuesday that “The Great Lockdown” will plunge the global economy into the “worst recession since the Great Depression, surpassing that seen during the global financial crisis a […]
Bank expects economic activity to slow by as much as 30% from end of 2019 After cutting it three times in barely a month, the Bank of Canada kept its benchmark interest rate steady at 0.25 per cent on Wednesday, despite an economic outlook that’s looking more and more like one […]
Doing “whatever it takes” to save the global economy from the coronavirus pandemic is going to cost a lot of money. The U.S. government alone is spending a few trillion dollars, and the Federal Reserve is creating another few trillion dollars to keep the financial system from collapsing. A custom […]