Happy Friday from BMWM!

 

The Current Account (click here to read) covers Joe Biden visiting Ottawa for the first time since taking office, the Fed pushing ahead with a rate hike despite banking sector turmoil, Canada’s population growing the fastest among advanced economies in 2022, and Ottawa having the worst taxi riders in Canada according to a poll.

 

To quote the Special Report published earlier today by RBC Global Insights, “A crisis for a few banks is not a banking crisis.” You can find this report attached to our newsletter this week, and it covers the factors that make the recent bank runs unique, as well as the approach of US policy makers and how the situation may impact investors in US banks.

 

Taylor’s word of the week is accismus, meaning “a form of irony in which a person feigns indifference and refuses something while wanting it”. For example, a woman rejecting flowers from her suitor even though she really wanted to accept.

 

Have a great weekend,

 

Brenda, Taylor, and Matty