Thursday morning news drop
Bank of Canada maintains policy rate, removes exceptional forward guidance The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ½ % and the deposit rate at ¼ %. With overall economic slack now absorbed, the Bank has removed its exceptional forward guidance on its policy interest rate. The Bank is continuing its reinvestment phase, keeping its overall holdings of Government of Canada bonds roughly constant. (Bank of Canada)
Are You Investing or Merely Speculating? The evidence is incontrovertible: the big money in investing is made not in the short-term wiggles but in the big moves, which only come with patience and time. The longer your holding period, the more time you have to compound, and the higher your prospective returns… (Compound Advisors)
Market Crash Hands Defeat to Traders Who Warred With Wall Street With stocks and crypto tumbling, inflation soaring and the Fed poised to tighten policy, what’s a trading revolutionary to do? (Bloomberg Wealth)
This is Normal 2 out of every 5 years has experienced a double-digit correction but still finished the year with double-digit gains. (Wealth of Common Sense)
What Really Happens When Workers Are Given a Flexible Hybrid Schedule? Who goes into the office and when largely depends on where employees fall on the org chart. (Businessweek)
Idaho Is Sitting on One of the Most Important Elements on Earth: The clean-energy revolution is unleashing a rush on cobalt, reviving old mines—and old questions—in a remote forest. (The Atlantic)
What Does a Gas Country Do Without Gas? The Dutch Can Answer. The Netherlands is retrofitting pipelines to transport hydrogen — a risky strategy given the fuel isn’t expected to be cost-competitive before 2030 (Bloomberg)
Exxon is using an unusual law to intimidate critics over its climate denial America’s largest oil firm claims its history of publicly denying the climate crisis is protected by the first amendment. (The Guardian)
Is Old Music Killing New Music? Old songs now represent 70 percent of the U.S. music market. Even worse: The new-music market is actually shrinking. (The Atlantic)
The trouble with beekeeping: Honeybees are not in need of saving — and they could be causing problems for the native pollinators who are. (Grid)
You go viral overnight. Now how do you get rich? Inside the fledgling cottage industry helping influencers make money. (Vox)