June 21, 2023

Markets were down on Wednesday as investors start to accept the reality that interest rates will be “higher for longer”. Remember “lower for longer”? That’s so yesterday.

The S&P 500 was down 0.5% and Toronto was down 0.2%.

There were no particularly notable moves in the stocks on out list.

Looking at some figures today, I see that the Government of Canada can still borrow 30 year money at 3.2%. It might be a good idea for them to do that. It was a travesty that most of the Canadian government borrowing during he pandemic was very short term when they could have locked ion 30 year money at ridiculously low rates. Such rates were under 1.0% for several months in 2020 and were under 1.5% for the entire year. 

 

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