A new survey of fund managers conducted by Bank of America says the current macro environment sentiment “screams capitulation,” setting up equity markets for a trough and a subsequent rally in the first half of next year. The survey of managers with a combined US$1.1 trillion of assets under management shows market liquidity has “deteriorated significantly,” with investors stockpiling cash at levels not seen since April 2021.
Canfor Pulp Products Inc. announced it is temporarily curtailing production at its Intercontinental Pulp Mill in British Columbia due to a lack of wood fibre. The total four weeks of curtailment will reduce output by about 28,000 tonnes. Goldman Sachs topped third quarter earnings estimates as higher-than-expected trading revenue helped offset a sharp slowdown in investment banking activity
Bit of a mixed back from Johnson & Johnson in the latest quarter. The consumer products giant topped quarterly earnings estimates, but cut its sales forecast due to the drag of the stronger U.S. dollarNotable data: Canadian housing starts and international securities; U.S. industrial production and capacity utilization
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