Writings

U.S. stocks closed in the red because the Fed statement was not dovish enough

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Wall Street erased gains and fell on Wednesday after the U.S. Fed failed to satisfy investors dreaming about a greater sign it could cut back future rate of interest hikes. In a widely expected decision, the Fed kept rates of interest unchanged and it said hello was “closely monitoring” global economic and financial developments, but it maintained an otherwise upbeat ...

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Dealmakers 2016: Click here for all our data

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Here are all the tables Financial Post Data generated for Dealmakers 2016. All tables are in PDF form. Hitting any link will either open a brand new window or download a PDF copy of the table to your computer. Data for investment banks reaches the top. Data for lawyers is below.   Full Credit tables All Financings 2015 Corporate Debt ...

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Canadian bond yields to be lower for longer this year

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National Bank Markets lowered its outlook for Canadian bond yields this season, saying weaker-than-expected economic growth will add downward pressure. The new forecast sees the two-year government of Canada bond trading at around 0.66 percent after 2016, down from an authentic call of 0.98 per cent. National Bank expects the 10-year yield to trade around 1.73 per cent. Low yields ...

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Hydro One’s ‘showcase’ IPO offered investors a slice of stability in uncertain times

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Launching an IPO seems risky in a downturn, but the Ontario government’s decision to list 15 per cent of electrical utility Hydro One was embraced through the market as a stock that offered a slice of stability in uncertain times. Despite retaining 85 percent of the company, the Ontario government pledged to punch below its investment weight and let the ...

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How to beat interest rate uncertainty if you’re investing in stocks

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It’s known as a matter of proven fact that markets hate uncertainty. Most investors, given a choice, like to understand what they’re coping with, and also the smart ones (e.g. Warren Buffett) look for companies that offer steady cash flows, a sustainable competitive advantage and also the financial strength to resist storms. U.S. Fed leaves rates unchanged, closely monitoring global ...

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‘Asymmetrical economics’ in WPT Industrial REIT deal leave some disappointed

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What were they thinking? All we know is that the decisions made by WPT Industrial REIT following an eight-month strategic review – which failed to find a buyer for the entire company – have disappointed investors plus some real estate analysts. How much? The units, which traded within the US$11 range in the week before the decision’s release, have fallen, ...

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Mackie Research Capital learns what happens when you hit the Send button too quickly

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The next time a company’s leader decides to send a missive to employees, it’s probably best to check with an assistant to find out if it’s been done properly. As oilpatch layoffs mount, downsizing with dignity is becoming a challenge There’s no good way to lose your job, but you will find certainly bad ways. As the stories of mass ...

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Birch Hill Equity takes deals into the ‘harvesting phase’

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Birch Hill Equity is one of the country’s largest private equity investors, with stakes in 20 partner companies. It runs using a cycle: it raises new capital, it seeks out opportunities after an acceptable period of ownership looks to reap the rewards. In 2015, it had been in the harvesting phase, looking to realize value for GDI Integrated Facility Services, ...

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