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Streetwise

News and analysis on Bay Street and the world of finance
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  (Joanna Wnuk/Getty Images/Hemera)

 

(Joanna Wnuk/Getty Images/Hemera)

Afternoon meeting: Another mortgage war on the horizon? Add to ...

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Another mortgage war on the horizon? Efforts by the federal government and the Bank of Canada to cool the housing market may be undone by the high demand for Canadian bonds. Five-year bonds are so hot that the banks' funding costs are lower today than they were during February’s "mortgage wars", sparking speculation of another round of ridiculously low interest rates.











Kinross sells stake in Brazilian gold mine Kinross Gold Corp. has agreed to sell its stake in the Crixas gold mine in Brazil for $220-million (U.S.) as the miner focuses on key assets, including a massive gold deposit in Mauritania that has come under fire after a major writedown.

TNK-BP head quits as crisis mounts Billionaire Mikhail Fridman resigned on Monday as chief executive of Anglo-Russian oil firm TNK-BP, plunging Russia’s No. 3 oil firm deeper into crisis and challenging co-owner BP's grip on the business.

British regulator lowers the boom on hedge fund chief British authorities have slapped the chief executive of defunct London hedge fund Dynamic Decisions Capital Management with a £3-million fine and barred him from working in the country’s financial services industry over losses related to the 2008 financial crisis.

Investments and the Chinese slowdown Stiffer regulations and rising labour costs in China have made 22 per cent of EU firms consider shifting investments to other emerging economies.

Fair value? The trustee working for Madoff's victims has been called a modern-day Robin Hood, but his $850 per hour fee is raising questions.

Withdrawals en masse The increased risk of big-time bank runs (in some euro zone countries) has an effect on gold.

No fail whales in China JPMorgan Chase & Co. bumped up the cash in its Chinese division by $394-million thanks to the country’s increasing need for financial services.

The euro-dollar-gold web Holding gold up against the euro and the U.S. dollar and looking for rally points.

“Short-term memory” boosts Euro markets Greek equities were up 6.8 per cent after a poll suggested a pro-bailout government could be formed -- but this could be a “false dawn”.

Junk bond ETFs to spur regulation? The passive fund industry is tough on market stability, and regulators could turn on ETFs if trading behaviour seems too erratic for retail investors.

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