Finance Minister Bill Morneau and those who work for him won’t like what they have been reading on the Blooomberg News ticker lately.
Last week, the Canadian wing of the news-and-data machine started by U.S. billionaire Michael Bloomberg introduced us to a new participant in the “short Canada” trade, a hedge fund called Crescat Capital that is betting against this country’s banks. And on Jan. 22, it published the provocative thoughts of Jim Mylonas, a strategist at BCA Research Inc., the Montreal-based research outfit that once employed Stephen Poloz, the Bank of Canada governor. “I think we’re just on the precipice of embarking on a serious recession,” Mylonas told Bloomberg. “It’s not a matter of if, but when."
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