Markets were down modestly on Tuesday as the S&P 500 fell 0.65% and Toronto was down 0.25%.
TFI International was up 2.35% on its earnings release.
RIWI a very small company that was recently added to our list posted a good strong earnings report after the close.
Visa reported lower than expected revenues.
The Financial Post reported today that the regulators are thinking of extending the mortgage deferral program. This gets a little ridiculous at some point. The banks are marking these mortgages as current and not delinquent despite extended payment holidays. This is called extend and pretend. Maybe it makes sense if almost everyone gets their jobs back soon. If not… it could get nasty in terms of mortgage delinquencies once the deferrals end.
The federal goverment is adding about $300 billion to the deficit by borrowing money. The Bank of Canada is going to simply print money to buy back about $260 billion in government debt over a one year period ($5 billion per week they said). What could go wrong? If the alternative to this is we would have had a depression and deflation perhaps it was the best move. But surely there will be negative consequences at some point.