Thursday morning news drop
Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week. (Bank of Canada)
GME, Doge, Supreme: How Getting Rich Went Full Internet The idea has always been that value — in stocks, art, precious metals, whatever — is inextricably tied to “fundamentals.” But it seems the internet changed that (hello, GME and Dogecoin!). Felix Salmon explains that if you want to understand finance now, you’d be better off studying Supreme than an annual report. (Wealthsimple)
Seven More Ways to Fool Yourself Into Good Financial Decisions Being boring has its advantages, behavioral economists say. (Businessweek)
Tesla owner spends $160 driving cross-country in all-electric 2021 Mustang Mach-E My problem with Tesla is their quality of service and workmanship. Some people accept it. When I had a 2019 Model X 100D, I used to hit a puddle and water would shoot up from the dashboard in my car. That car cost me almost $90,000. They couldn’t figure it out. In the Mach-E, everything looks nice (Detroit Free Press)
Fixed mortgage rates have increased. But for home buyers willing to gamble, variables are getting cheaper Major lenders have hiked fixed five-year mortgage rates over the past few weeks in response to rising government bond yields, but new home buyers willing to take a gamble may be tempted by another option: declining borrowing costs for variable mortgages. (Globe and Mail)
Shut out: A well-qualified millennial home seeker throws up his hands after losing multiple bidding wars In a hot housing market, it means nothing that you have a household income of more than $200,000 and a down payment of $450,000. (Globe and Mail)
The Empty Religions of Instagram How did influencers become our moral authorities? Are we truly nonreligious, or are our belief systems too bespoke to appear on a list of major religions in a Pew phone survey? (New York Times)
Report Regarding Women on Boards and in Executive Officer Positions This report outlines key trends from a recent review of public disclosure regarding women on boards and in executive officer positions as required by Form 58-101F1 Corporate Governance Disclosures. The review was completed for the purposes of identifying key trends. A qualitative assessment of compliance with the disclosure requirements was not conducted. (Canadian Securities Administrators)
The New BMW M3 Looks amazing except for the front… how did they make a car look soo good and soo ugly at the same time?