Why is everybody picking on us?
Investors are betting against our dollar, equities, even our bank stocks.
Markets also see further declines for the loonie, which was quoted buying 84 U.S. cents at 11:35 a.m. and has dropped 8.4% against its U.S. counterpart over the past year. Wagers against the currency outnumbered those for it — so-called net shorts — by 17,087 positions as of Jan. 6, the most since Dec. 5, according to data from the Washington-based Commodity Futures Trading Commission.
For Merrill Lynch, the risk is the slowdown in the oilsands will seep into a housing market “already saddled with near-record levels of household leverage.”
Canada’s ratio of household debt to disposable income rose to a record 162.6% between July and September, according to data released last month. Benchmark interest rates of 1% have fanned a house-buying frenzy that sent 2014 sales up 6.7% in Toronto and 16% in Vancouver.
Read the full article in the Financial Post.