Earnings
July 20, 2019 - AQN
New! Algonquin Power & Utilities Corp. Q1-2019 Earnings & Price Target .....
July 20, 2019 - EMA
New! Emera Inc. Q1-2019 Earnings & Price Target .....
July 18, 2019 - BEP.UN
New! Brookfield Renewable Energy Partners - Q1-2019 Earnings, Price Target .....
July 17, 2019 - SKT
Tanger Factory Outlets Inc. Q1-2019 Earnings & Price Target .....
July 14, 2019 - RUS
Russel Metals Inc. Q1-2019 Earnings. Price Target Update .....
July 13, 2019 - GEI
Gibson Energy Inc. Q1-2019 Earnings, Price Target Update .....
July 12, 2019 - SU
Suncor Energy Inc. Q1-2019 Earnings & 2019 Price Target .....
July 11, 2019 - SJR.B
Shaw Communications Inc. Fiscal Q3-2019 Earnings & Price Target Forecast .....
Recommendation Changes
AQN, SJR.B, GEI, RCI.B, BCE, more...

Coverage Universe - Weekly Price Changes - Jan 25-Feb 1, 2019

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Current economic data is confirming there is little risk any of the major economies will overheat enough to generate sustained inflation. US central bank chief Jerome Powell has confirmed there is no rush at all to raise interest rates.

GDP growth rates are returning to the long run normal level of about 2%, inflation forecasts are much the same at 2%. Central bankers are spending much less time at the media microphones talking about raising rates. This is a big change from as recently as January of this year, when popular opinion was central banks were firm in their resolve to keep on with raising interest rates. The era of technology is muting inflation, and increasing productivity. Even trade tariffs and ballooning US trade imbalances are not enough to kick start inflation. The lack of inflation is also the reason why rising government debt levels are being tolerated by the bond markets. It is important for this to continue; comments this week discuss why.

The waning outlook for higher interest was also apparent last week in the Canadian preferred share segment. On average there was no change in price for the fixed rate preferred share issues, rate reset preferred shares lost 1.8%. In a flat to possibly declining interest rate environment, the value accorded to the rate reset feature is lessening. For a flat interest rate outlook, rate reset preferred shares will have to be priced to yield the same as comparable fixed rate names. If the outlook shifts to a drop for interest rates, the rate reset feature will be accorded even less value. The reappearance of fixed rate preferred share new issues might not be that far off.

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