Michael Bloomberg welcomed Justin Trudeau to his corporate home in New York this week with a love letter of such intensity that even Stephen Harper would blush. Bloomberg wrote a column for his global financial media behemoth that called Canada’s prime minister “energetic and pragmatic” and compared Trudeau to John F. Kennedy. “The value of the Canadian dollar and the price of oil, one of the nation’s top exports, have both tumbled to near record lows,” the billionaire and former three-term mayor of New York wrote ahead of Trudeau’s arrival for town-hall event on live television. “But those details—and the apparent demise of the Keystone XL pipeline—don’t begin to tell the story of what lies ahead for the economy of Canada, America’s second-largest trading partner.”
Canada’s main stock market increased about 1% between the time of Trudeau’s visit to the Bloomberg LP headquarters and the early trading hours of March 18. That’s probably because the U.S. Federal Reserve indicated it was less keen about raising interest rates. But for fun, let’s give Bloomberg’s endorsement of Trudeau’s economic strategy a little of the credit. There is no one on Wall Street with a louder bullhorn than the former mayor.
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