Daily Morning Call

From the Floor: Canada banks downgrade sparks fears of 'Minsky moment'

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A Moody's downgrade of six large Canadian banks has sparked fears of broader collapse in Canada's credit markets, knocking the Canadian dollar despite 2017's biggest one-day rebound in oil prices. The New Zealand dollar fell on dovishness from the RBNZ.
  • Moody's cuts ratings on six Canadian banks, sparking fears of wider collapse
  • 'You wonder if Canada is marching towards Minsky moment in credit markets': Hardy
  • CAD lower despite oil's rally due to Moody’s downgrade of Canadian banks
  • New Zealand dollar drops sharply on dovishness from RBNZ
  • Market caught off guard by RBNZ saying odds of a cut are as high as for a hike
  • Oil stages biggest single-day jump of 2017
  • Oil gains as drop in crude and fuel stocks triggers short-covering above key levels
  • WTI crude looking to establish support above $47 /barrel, Brent above $50/b
  • Goldman and IEA see accelerating oil stockpile decline: Hansen 
  • Draghi gave no concession to German tapering wing : Boye
  • Snap Inc shares plunge 23% after Q1 results miss market estimates