Finity Fund Profile picture
May 16 5 tweets 2 min read
At the close in #Toronto, the S&P/#TSX Composite Index was at 20,206.41 points, up 0.53% today, as dip buyers helped Canadian equities rebounded from last week’s selloff. The TSX was also supported by broad-based gains in commodities, towards which the index is weighted.
The energy sector was buoyed by crude prices, which is being supported by the likely enactment of a ban on Russian oil, from which Canadian producers are expected to benefit. China is also beginning to lift lockdowns, including in Shangai, easing concerns on the demand side.
The heavyweight materials sector also helped lift the TSX, buoyed by industrial metals, which are also likely to see demand rebound as China begins to ease back on Covid-19 restrictions.
The Canadian Index was also supported by strong domestic economic data for the month of March, including a 0.03% increase in wholesale trade and a 2.5% increase in factory sales.
Investor sentiment however remains uncertain following weak economic data from China further that, in addition to the likelihood of aggressive rate hikes by global central banks, continues to fuel fears of a global recession.

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More from @finityfund

May 18
#SriLanka’s street protests over soaring inflation, shortages of food and fuel and lengthy power cuts have shaken Gotabaya Rajapaksa’s hold on power. His PM, who’s also his brother, has resigned along with other gov ministers, while the opposition has called for fresh elections.
Rajapaksa carried out populist tax cuts in late 2019, reducing revenues just months before the pandemic devastated the economy, with international flights grounded and successive lockdowns ordered.
Remittances from overseas Sri Lankan workers dried up as well as many lost their jobs. With foreign-exchange earnings plunging, Sri Lanka struggled to manage its external debt, which had grown in part due to loans from China to fund ambitious infrastructure projects.
Read 5 tweets
May 18
The South Asian nation is set to blow through the grace period on $78 million of payments Wednesday, marking its first sovereign debt default since it gained independence from Britain in 1948. #EconomicCrisisLK #SriLankaEconomicCrisis
Its bonds already trade deep in distressed territory, with holders bracing for losses approaching 60 cents on the dollar. The government said last month it would halt payments on foreign debt. #GOSL #CBSL #CSE
Prime Minister Ranil Wickremesinghe, appointed last week, is yet to choose a finance minister, who will help lead talks with the International Monetary Fund over badly needed aid.
Read 5 tweets
May 16
TC #Energy (#TSX: $TRP)(#NYSE: $TRP) is a reliable bet to generate a regular inflow of cash amid all market conditions. This energy infrastructure giant owns a low-risk portfolio of regulated and contracted assets that account for most of its earnings and easily cover its payouts
Further, it makes it relatively immune to the economic cycles. It’s worth mentioning that TC Energy’s 95% of adjusted EBITDA is generated through the regulated and long-term contracted assets.
It implies that its payouts are very safe. Further, the company increased its dividend at a CAGR of 7% over the past 22 years. What’s more, TC Energy offers an attractive yield of 5%.
Read 5 tweets

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