- Collection time ⏰ — The Twitter and Musk feud is nearing its climax. US inflation numbers are bad. And the Feds haven’t been able to get their loans back.
Wednesday, September 14th 2022
Join us for a live recording of The Peak Daily at the Bet on Canada Summit on November 8th. Buy tickets here: https://readthepeak.com/events/bet-on-canada-2022 As we await the start of Twitter v. Elon Musk (October 17 if you want to mark your calendar) the final pieces are falling into place for the tech trial of the century. The federal government gave small businesses $49 billion in pandemic loans but forgot one crucial part of doling out tonnes of cash: A plan to get it back. Higher-than-expected US inflation numbers have cleared the runway for the Federal Reserve to deliver another big rate hike—a realization that has sent markets into shock. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.
- Basis points ⬆️ — The Bank of Canada announced a 0.75% rate hike. New iPhones. And markets are going haywire.
Thursday, September 8th 2022
As expected, the BoC delivered another oversized rate hike, bumping the overnight interest rates up to 3.25% from 2.50% (or 75 basis points, if you’re fancy like that). Apple held its latest product launch event, dubbed Far Out, yesterday, announcing a range of new goodies including the iPhone 14 and the Apple Watch Ultra. Freaked-out investors are pouring money into the US while pulling out of international stocks at a rate not seen since a 22-week run of outflows in 2019, per the WSJ. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.
- Gaz guzzlers ⛽️ — Alberta can’t capture the natural gas upside. Homeowners in China are boycotting rent payments. And Canadian VC dollars are coming back to earth.
Friday, August 19th 2022
The demand for natural gas has soared this year, but producers in Alberta have been unable to capitalize on higher prices (and are seeing billions lost in revenue). Hundreds of thousands of homeowners across 100 cities are banding together and refusing to repay loans on unfinished apartments After a high ride throughout the pandemic, venture capital (VC) funding for Canadian companies has finally come down to Earth. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.
- Correction ✏️ — The CPPIB didn’t do that bad. Russian oil is doing okay. And Canada’s housing market may be stabilizing.
Friday, August 12th 2022
The Canada Pension Plan Investment Board (CPPIB) saw its funds drop by 4.2% last quarter or roughly $16 billion—which sounds a lot worse than it actually is. According to the International Energy Agency (IEA), Western sanctions have had a limited impact on Russia’s oil exports, which is also its biggest money maker. The average price of a Canadian home is projected to fall by ~25% by the end of 2023 from all-time highs this past February, per a new report from Desjardins. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.
- Airline audit ✈️ — Netflix’s games aren’t taking off. The government is investigating Canadian airlines. And Google wants Apple to get rid of the green bubbles.
Wednesday, August 10th 2022
Netflix is struggling to build its gaming business as less than 1% of their users interact with them on a daily basis Just when you thought things couldn’t get any worse for Canada’s airlines and airports, the government has launched an investigation into the flight cancellations making headlines. Android users know that there is no greater indignity than being the only green bubble in a friend group of iPhone users. Google is now stepping up to fight this injustice. The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.
