In addition to the oil price and Toronto Stock Exchange plunging from its high of 15700 points, now with the surprise rate cut by the Bank of Canada, the CAD dollar is taking a hit and along with that the Canadian Bond yields are going down too….Ouch.
The oil plunge will cause significant problems in western Canada, particularly Alberta which is now seeing huge layoffs in the oil fields and that will have ripple effects to be felt within 6 months.
