This week – a stock contest update, a look at short term interest rates, and more!

Written By: Amit Shteyer & Peter Robertson

Canada’s Economy at a Glance

Economics Society News, Events, and Articles 

Articles:

A Lethal Bullet for Canada’s Peacekeeping Reputation By Adshake Kunanithy

News: 

Our stock competition has begun. Check out the first leaderboard below! and stay tuned for more updates. 

News and Noteworthy

On this Canada Day, Canadians face calls for change – and economic historians have been trying to adjust
The events of the past year, including BLM and the discovery of thousands of unmarked Indigenous children’s graves, are opening the eyes of Canadians to persisting economic injustices. While various economists focus on different narratives and events, there has been a common desire to expand and make revisions to our concept of economic history. Read more.

Canada Economy Suffers Less From Third Wave Ahead of Rebound
The Canadian economy shrunk less than was expected during a spring surge of Covid-19 cases. GDP dropped by 0.3% compared to economists’ predicted drop of 0.8%. With the recent reopening, increased job postings and credit card transactions have signaled that the economy is finally beginning to bounce back. Read more.

British Columbia sees 195% increase in sudden deaths during Canada heatwave
A heatwave that recently hit western Canada has caused over 300 deaths, 195% more than usual during this period. The town of Lytton in BC was evacuated due to a fire as it reached a national record of 49.5 degrees celsius for 3 consecutive days. Read more. 

The Bank of Canada is facing a test over inflation – they’re not exactly acing it
As the Bank of Canada’s 3 variations of CPI (CPI-trim, CPI-median, and CPI-common) are currently painting very different pictures of the role inflation is playing in Canada’s economic rebound, some Scotiabank analysts are suggesting none of the 3 measures are particularly effective. Read more.

Value Rotation Propels TSX Toward Best Half Since 2008 Crisis
The TSX recently recorded its best half since 2008, gaining about 16%. This is largely thanks to a shift towards value stocks by investors. This shift led to a rotation away from the tech sector which makes up 11% of the index and into the energy and financial sectors which make up 44% of the index according to analysts. Read more.

U.S. economy added 850,000 jobs last month, far more than expected
The US added 850,000 jobs in June, significantly more than the 559,000 added in May. The US Labor Department cites the reopening of the economy for the added jobs – particularly due to increased shopping, restaurant dining, and travel. Read more.

Recommended Listen 

What Changes Will Stick When the Pandemic Is Gone? (NSQ Ep. 55)
Also: would you take a confirmation-bias vaccine?