The banks are doing just fine, thanks: Investors got a first look last week at how Canadian banks are faring amid a housing market slowdown and record consumer debt levels. Spoiler: Their profits haven’t taken a hit. RBC and CIBC reported better-than-expected third-quarter earnings and investors will be watching closely to see whether the trend continues when the rest of the Big Six report this week.
Just when you thought NAFTA was cancelled: Despite U.S. President Trump’s off-the-cuff remarks about his belief the entire trade deal will be killed off anyway, negotiators will meet in Mexico City starting Friday until Sept. 5 for the second round of talks. But we’re unlikely to hear much on what’s going on behind closed doors: The three countries have signed a confidentiality agreement to prevent leaks during talks.
Economic check-up: Statistics Canada is set to release the latest GDP growth figures from the second quarter of the year. Most economists expect the economy to have pumped out a solid 3.1 per cent growth performance, even though the quarter ended with a relatively flat June report.
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Bombardier’s Swedish saga: A Russian Bombardier employee will appear in a Stockholm court this week on aggravated bribery charges related to a payment to win a US$340 million contract in Azerbaijan.
What bubble?: The Canada Mortgage and Housing Corp. will release its second-quarter financial report Tuesday, which could provide some hints on the quality of loans in Canada’s insured mortgage market and what the federal agency thinks of a recent cool down in the sector.
