All Photos Twitter.com
Bye Kate Bush, hello Alanis. New legislation could force platforms like TikTok to highlight more Canadian content for Canadian viewers. Tired of running up that hill? Take a break and read the latest business news in this week’s TLDR: wsim.co/tldr-2022-06-27
Investors who don’t want to worry about the complexities of commodities trading may invest in them through ETFs that track them. Those can be traded on any investment platform. Want to learn more about how this all works? Read more: wealthsimple.com/en-ca/magazine…
🧾Standardized commodities contracts are called "futures contracts." Commodity prices tend to go up with inflation, which is why many people use them as a hedge against it.
✅ if you said homes. Commodities are just raw materials used for production or manufacturing. They come in pretty broad categories: metals (gold, silver); energy (oil, gas); agriculture (wheat, lumber); livestock (cows, sheep).
Commodities are 🔥hot commodities🔥 right now. But what, exactly, are they? Let’s test your skills: which of these is NOT a commodity?
Consider this: even if a recession hits it could be a softer landing than some pundits are predicting. We look at a number of ways the economy could surprise us for better or worse, from employment to growth, in this week’s TLDR newsletter: wsim.co/tldr-2022-06-27
It’s not popular to talk about (people don’t like to be wrong about predicting this) but there are some indicators that things aren’t so bad: - Inflation might be slowing (finally) - Supply chain backlogs are easing up - Bear markets are more often than not followed by bull runs
OK, so she’s not just making stuff up. There are some bad indicators. Here’s the nutshell: - Inflation is way up - Central bankers are cranking up interest rates - Canadians have record-high levels of debt
So is Cardi right? Is a recession inevitable?
The conventional wisdom is we’re headed for a recession. Even Cardi B, who’s probably never wrong, said so. But no one is talking about another possibility: a NOT recession. Or at least a soft one. Because, that’s actually possible. 🧵U
Another wild ride in the world of money, recapped in this week’s TLDR newsletter: wsim.co/tldr-2022-06-27
We just launched Canada’s best financial newsletter (in our humble opinion). If we told you it wasn’t boring, would you believe us? No need to — sign up and believe it for yourself. �wealthsimple.com/tldr7V
All of these steps were taken to manage risk over the long term. We know it’s tough to sit tight when the market is underperforming. But that’s often exactly what you should do. wealthsimple.com/en-ca/magazine…
✨What makes Wealthsimple’s portfolios unique is our precise mix of stocks and bonds. We use a few different strategies: • We have a globally diverse mix of assets. • We hold defensive stocks. • We hold slightly more bond risk than competitors. • We avoid active trading.
It’s a long-term plan – because markets tend to go up over time. As hard as that can be to remember when every number you see seems to be red, it’s true.
Our portfolios are designed to largely track global markets. They’re based on risky assets, like stocks, but with some protections added for stability. That means going up a little less when the markets are☝️but also going down a little less when the markets are👇.
It’s been a rough year for markets. And yesterday it got worse. With the S&P officially in a bear market, it can be tough to look at your portfolio, let alone assess how it’s doing. That’s why we wanted to share the philosophy behind our Managed Investing portfolios.
Unfortunately that 4.5% estimate might be conservative. A senior BMO economist recently pointed out that the last time five-year bond yields were at this level, five-year fixed mortgage rates were above 5%.
1.4 million Canadians took out a mortgage during the pandemic. With the average Canadian already carrying $20,000 in debt outside of their mortgage, a future rate hike as big as the BoC is predicting (4.5%) would likely hit pretty hard.
Given all that – how are you feeling about home ownership lately?
Interest rates are going up 1-2%. Doesn’t sound like much, but it could mean paying 45% more/month – that’s how much @bankofcanada warns some mortgage payments could rise. An example: 🏡$400K mortgage, 10% down 🗓️(2020) 2.5% interest=$1.6K/month ⏰(2025) 4.5% interest=$2K/month
💸 And, meanwhile, the Tories and NDP are shouting directions from the backseat as the economy careens toward the future amid 6.8% inflation. The Conservatives say they would suspend Canada’s GST on fuel, while the NDP wants to tax excess profits on big companies.
🏠OK, next, a Buddhist koan: if a house price falls in Toronto, would you even notice? Canada’s average housing price dropped a little bit more in May. That’s after the benchmark interest rate was hiked to 1.5%. Will they drop more? Watch this space to find out.
⛽ It’s Monday, which means our weekly money news recap. First: gas prices? Still refusing to chill out. Here’s what that looked like in Vancouver this weekend. Let us know what you’re paying where you live. 😬n
📉 Seeing a negative return stings. So, we’re sharing how we build our managed portfolios, why losses are normal, and how to keep calm through this market downturn.
Yesterday developers ran a test merge — and it worked. This means Ethereum should be on track to upgrade to PoS in a matter of months. For real this time.
Ethereum has been working on switching to PoS – essentially eliminating “mining” – for a (looooong) while. If it works, it should massively reduce ETH’s carbon footprint, increase speeds, and bring down transaction fees. A game-changer for $ETH.
In crypto news, @ethereum took what should be a giant step in its quest to move from proof of work to proof of stake. Or at least a giant step toward the next giant step. More…
Freelancers: this is your reminder that the self-employed tax filing deadline is June 15th. Here’s how to save like a nine-to-fiver in your downtime.
That’s hurting small competitors — AKA those independent ISPs with slim profit margins. @TorontoStar reports some already shut down. So, what can you do? Other than using free coffee shop Wi-Fi, not much. You can at least weigh in: Ottawa’s taking public comments until July 19.
Ottawa 🏛️ proposed a new policy directive for the CRTC this week — it reinforced the need for big telcos to offer network space to small resellers. But, the gov’t is also refusing to go back to an earlier decision that would have ensured that space is sold at lower prices.
Most Canadians are Big 3 customers. And, it won’t surprise you that we have way higher high-speed prices than countries like France or the U.K. For some, those small regional ISPs offer a cheaper alternative — but they might not be around long...
🛰️ OK, so, a question... What internet company are you using to read this tweet, right now? (If you really feel like sharing, tell us how much you’re paying, too — we’re curious!)
👷What’s up this week? Canada’s monthly helping of unemployment stats comes out Friday. Last month’s stats showed record low unemployment – even as job creation slowed down – so it’ll be worth watching to see just how snug the labour market is.
💳 The Bank of Canada hiked interest rates another 0.5%. And, like Avatar sequels, there’s apparently more to come. It's probably a good time to understand what interest rates have to do with your money and investments. Read more here:twitter.com/Wealthsimple/s…R
🕵🏽 Is Tim Horton actually Big (Donut) Brother? The fed privacy commissioner ruled that the coffee chain's app has been collecting data without obtaining adequate permission. Yes, that means it probably knows all about your Timbits habit.
☕ Did you know your friendly neighbourhood double-double retailer might also have been tracking you? That, plus what else you need to know about what’s happening in the world of money this week.👇4
Don't forget, we currently only support deposits for certain tokens. Make sure to double check before transferring so you don't lose your funds!👇help.wealthsimple.com/hc/en-ca/artic…m
📣 You can now trade $BNT, $SKL, $CHR and $STORJ on Wealthsimple Crypto. As always, remember to research before trading.
👀 So, what happens next? (More hikes? More inflation?) It depends on how the economy reacts to the rate increases (aka how fast it cools off). We’ll get a hint on June 22, that’s when Canada releases the latest inflation numbers. So, stay tuned.
💳 What the bank wants to do is make it more expensive to borrow money – because that will theoretically slow inflation down. To do that, it’s hinted more rate increases might be on the horizon (that announcement, if it happens, would likely come in mid-July.)
🏠 Housing prices have cooled a little, but they’re still super high. And housing is probably the part of the economy most susceptible to interest rate hikes because higher interest definitely makes it less appealing to take on a big new mortgage.
🧯🔥Basically, inflation is still too hot for the bank’s liking. It hit a 31-year high of 6.8% in April – above the bank’s 2% target. Unemployment is at its lowest since the ‘70s; wages are rising.
🏦 If you didn’t hear, the@bankofcanadaa hiked interest rates this morning, bringing them up to 1.5%. Interest rates affect lots of stuff – like loans, mortgages, lines of credit, and bonds. They can also have trickle-down effects on the stock market. Here’s what it might mean👇
👀Your app, refreshed �kn
Still using your dad as your portfolio advisor? As great as he is, it might be time to switch to a managed account. Here’s why.
We’re partnering with @queertechhq and inviting 2SLGBTQ+ tech talent to Toronto’s first-ever PrideHacks at our HQ! Register for the two-day hackathon here 👇
🏦 Speaking of everything costing more, Canada’s central bank is still trying to fix that—which likely means they’ll hike interest rates another half-point Wednesday. Bad news if you didn’t lock in your mortgage; may be good news for those tired of spending $7 on cottage cheese.
💸 Canadians yanked $5B from their mutual funds last month, a big change from Q1 last year which saw investors pour in more than $51.2B. It’s understandable — everything costs more now — but some experts have cautioned that withdrawing in a down market could lock in losses.
Twiends™ uses the Twitter™ API, displays it's logo & trademarks, and is not endorsed or certified by them. These items remain the property of Twitter. We do not sell followers, we only provide display advertising. Bots & fake accounts are not permitted on twiends. © 2009
Grow Your Twitter Free
Want To Grow Your Twitter?
We help other people find and follow you on Twitter.
Key Info:
Started in 2009
Over 6 million signups
Country targeting provided
We never auto tweet to your timeline
We never auto follow others
We actively moderate our community
Please Share
Please upgrade your browser  chrome