Asset pricing

• November 23, 2021

  Checking up on Canada’s financial system

  Speech summary Paul Beaudry Ontario Securities Commission Toronto, Ontario

  Deputy Governor Paul Beaudry speaks about the strength and resilience of the financial system throughout the COVID-19 pandemic and economic recovery. He also outlines key vulnerabilities and risks going forward.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Asset pricing, Central bank research, Climate change, Coronavirus disease (COVID-19), Financial institutions, Financial stability, Housing, Interest rates
• November 23, 2021

  Financial stability through the pandemic and beyond

  Remarks (delivered virtually) Paul Beaudry OSC Dialogue, Ontario Securities Commission Toronto, Ontario

  Deputy Governor Paul Beaudry provides an update on financial vulnerabilities and risks in Canada, including those stemming from the COVID-19 pandemic.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Asset pricing, Central bank research, Climate change, Coronavirus disease (COVID-19), Financial institutions, Financial stability, Housing, Interest rates

• What cured the TSX Equity index after COVID-19?

  Staff Analytical Note 2021-3 Guillaume Ouellet Leblanc, Jean-Sébastien Fontaine, Ryan Shotlander

  The TSX index rose by 9.5 percent in November 2020, adding large gains to an already sharp V-shaped recovery. The economic outlook improved at that time as well. We ask whether the stock market gains since last autumn are due to improving forecasts of firms’ earnings.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Asset pricing, Coronavirus disease (COVID-19), Financial markets JEL Code(s): G, G1, G12, G14

• Secular Economic Changes and Bond Yields

  Staff Working Paper 2021-14 Bruno Feunou, Jean-Sébastien Fontaine

  We investigate the economic forces behind the secular decline in bond yields. Before the anchoring of inflation in the mid-1990s, nominal shocks drove inflation, output and bond yields. Afterward, the impacts of nominal shocks were much less significant.

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Econometric and statistical methods, Interest rates, Monetary policy and uncertainty, Potential output JEL Code(s): E, E4, E43, G, G1, G12