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Alberta Stands Alone: Refuses to Sign Joint Statement on Trump Tariffs

  In a surprising turn of events, Alberta has refused to sign a joint statement from the first ministers' meeting regarding the Trump administration's proposed tariffs on Canadian goods. Premier Danielle Smith, who attended the meeting virtually, stated that Alberta cannot support the federal government's plan if it includes energy export tariffs.  The meeting, chaired by Prime Minister Justin Trudeau, aimed to present a united front against the U.S. tariff threats. However, Smith's refusal to sign the statement has highlighted the province's unique concerns about the potential impact on its energy sector. Alberta's oil and gas industry, which is Canada's largest export to the U.S., could face significant financial pressure if the tariffs are implemented. Smith emphasized that Alberta will take whatever actions are necessary to protect its economy and the livelihoods of its residents. This stance has sparked a debate among the premiers, with some urging unit...
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European Stocks Surge and Bond Yields Ease as Markets Scale Back Bets on Rate Cuts

 

European stocks surged to a fresh two-year high, and bond yields eased as markets scaled back ambitious bets at the end of 2023 on rate cuts by the Federal Reserve and other major central banks. The S&P 500 also edged higher, with the index poised to set a new record closing high, at the start of a week packed with big corporate earnings, European inflation data, Federal Reserve and Bank of England meetings and U.S. employment data.

The market is trying to understand the outlook for the U.S. economy as it is unlikely to require the deep interest rate cuts by the Fed it has priced in. Absent geopolitical shocks, the U.S. economy will grow better than expected with just a few areas underperforming.

The surge in European stocks and the easing of bond yields can be attributed to the markets scaling back their bets on rate cuts by the Federal Reserve and other major central banks.



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