Trade War Traffic Jam – Earnings: POW, PWF, GWO, MFC, SLF
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The geopolitical upheaval being driven by President Trump is at least growing in proportion.
It could rearrange allegiances formed as a result of WW II, and change international trading. Now, added to these two important issues are the frosty relations between the office of the US President, and the Central Bank chief overseer Jerome Powell. Trump has crossed a supposedly sacred line by publicly advocating how interest rate policy should be administered. Comments this week consider the implications of his attempt to break this tradition and how it might impact interest rates and financial markets.
Earnings updates include Manulife Financial Corp.(MFC), Sun Life Financial Corp. (SLF), Power Corporation of Canada(POW), Power Financial Corp. (PWF) and Great-West Lifeco Inc.(GWO). All of these names operate in the insurance and investment sectors. Also common to all, were long track records of dividend increases prior to the Global Financial Crisis, then stopping dividend increases from 2009 to 2014. The exception was Manulife Financial Corp. who cut dividends by 50% in 2009 in response to the Global Financial Crisis. Then in 2015, three consecutive years dividends increases began for all, and this has continued for 2018.
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