US Debt Clock Ticks - Earnings: PPL, RNW, CPX, ALA, SOT
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As is common practice when elections draw near, central bankers prefer to remain impartial, neither decreasing nor raising interest rates. US Central Bank Chief Jerome Powell, was expected to raise interest rates at his last meeting, wisely passed on the opportunity. There are more reasons for Powell's low profile than Trump's recent meddling in central banking policy. There are the US tax cuts passed prior to Powell's appointment, and Trump's trade battles since.
The eventual outcome US mid-term elections will be a judgment on President Trump's performance. This will depend on US government finances, the value of the US dollar and the outcome of the trade wars. The outlook for US debt has been an infrequent but recurring topic, a concern lurking in the background since Trump was elected. Trade wars and the US currency are new on the radar. The US midterms are the first chance for the voters have a say since Trump entered the picture. The outcome of the election could have a substantial impact on interest rates going forward.
Earnings updates this week include Pembina Pipeline Corp. (PPL), TransAlta Renewables Inc. (RNW), AltaGas Ltd(ALA), Capital Power Corp. (CPX) and Slate Office REIT(SOT.UN).With the exception of Slate Office REIT, all reports are based on Q2-2018 earnings.
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