The Globe and Mail reports in its Thursday edition that tariff threats did not spoil corporate Canada's appetite for deal making and fundraising over the past three months. The Globe's Jameson Berkow writes that stock sales and merger and acquisition activity both soared in the second quarter. Borrowing activity appeared to be the sole casualty of the continental trade war, with corporate debt issuance from early April to late June totalling $22.6-billion, fully one-third below the same period in 2024. "There was a drastic drop in the month of April," said RBC Capital Markets' Patrick MacDonald. The decline coincided with what U.S. President Donald Trump dubbed "Liberation Day" on April 2. When Mr. Trump mostly backed down a few days later, those fears slowly dissipated and market confidence was eventually restored. "May and June have been extremely active," Mr. MacDonald said. RBC was the top investment bank for equity issuance during the first half of the year. Toronto-Dominion Bank ranked third in underwriting Canadian stock sales for the first six months of the year. TD was the only Canadian name to rank among the top 10 investment banks for stock sales worldwide during the same period.