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Canaccord Genuity Group Inc
Symbol CF
Shares Issued 108,477,450
Close 2019-08-30 C$ 5.01
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Globe says Canaccord sees bear market in stocks ahead

2019-09-03 08:23 ET - In the News

The Globe and Mail reports in its Saturday, Aug. 31, edition that the stock market's strength suggests confidence that the growth outlook will improve in the fall, and beyond. The Globe's Tim Shufelt writes that the bond market is telling an entirely different story. The latest bad omen to come out of the bond market was the sinking of 10-year yield below the two-year yield on U.S. Treasuries two weeks ago. Canaccord Genuity Group analyst Tony Dwyer says, "[With that] the countdown has begun." He says it is only a matter of time before we see a U.S. recession and bear market in stocks. Mr. Dwyer says where the United States goes, in economic and financial matters at least, Canada is sure to follow. Whether that happens soon, or two years from now, depends in large part on how the U.S. trade war with China unfolds, with more than $700-billion (U.S.) in two-way trade already subjected to import charges. The global toll of those competing tariffs is growing, with trade-sensitive economies such as Germany struggling to tread water, while the global manufacturing slump already qualifies as an "industrial recession," says Mr. Dwyer. The fallout from tariffs puts a potential correction firmly on the table.

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