Monday morning briefing: Bitcoin bouncing back

Cash is apparently king in Canada. According to a report from CIBC, Canadian households and businesses have compiled a record amount of excess cash, totalling $170 billion ($90 billion for households and $80 billion for businesses). Government support, particularly CERB and CEBA, has bolstered these high levels of household and business cash. Additionally, poor economic conditions and lockdown restrictions have curbed spending by both groups. Consumer spending and business investment will be key drivers of the recovery, but that recovery could be negatively impacted if this cash isn’t put to use.

Economic/industry news

Canada’s inflation rate was 0.7% in October: Inflation in Canada unexpectedly accelerates on shelter costs

Retail sales growth slows in October: Stocks slip on worse-than-expected retail sales ahead of ‘difficult winter’ to come

A look at the largest asset holders in the world: Here are the world’s biggest asset owners

Is a shift from growth to value underway?: Is now the time for value investing?

Value stocks could benefit from a vaccine: Vaccine news a shot in the arm for value investing

Reasons for hope

Moderna’s potential vaccine shows promise: Moderna CEO: COVID-19 vaccine’s ‘fantastic’ results mean it could be ready next month

Final analysis finds Pfizer vaccine more than 95% effective: Pfizer, BioNTech plan filing as vaccine proves 95% effective

Important considerations for making a family charitable donation: Meet the care-package company that’s boxing up local pride in Baltimore

Adapting your business

A few tips to help avoid body pain while working at home: These are some common pains of working in a home office. Which do you identify with?

Adding real value to your customers’ lives: No office, no problem: Software Unicorn GitLab’s CEO warns you’re probably doing remote work wrong

Looking for an education in investing: Nearly half of Americans want to learn more about investing: survey

The pandemic could have a lasting impact on retirement plans: Retirement planning in a pandemic

Chart of the week – Bitcoin bouncing back

The price of Bitcoin continued its surge higher last week, reaching prices last seen in 2017. At that time, Bitcoin was rising in popularity, being accepted in more transactions and making its way into the financial services industry through options and other financial instruments. This time the price of Bitcoin has risen with much less fanfare. So what has caused the surge in prices over the last few months? Bitcoin has become more popular among institutional investors, which has helped drive up prices. JPMorgan analysts also noted that Bitcoin is a potential substitute for gold. The values of both Bitcoin and gold have been driven up during a massive rise in both fiscal and monetary stimulus. While the cryptocurrency may still have its doubters, Bitcoin appears to be here to stay, and, while volatile, is proving to be an increasingly popular investment.
Used with permission of Bloomberg Finance L.P.

News and notes (U.S.)

Why private capital is vital for the economic recovery: Private capital is the best economic stimulus

The top corporate access providers amid a difficult 2020: Corporate access had to be reinvented this year. Investors say JPMorgan did it best.

Fidelity’s Managed Account Xchange could be a game-changer: Why Fidelity’s new advisor platform is a big deal

2020 could separate the winners from the losers: Hedge fund managers face ‘survival of the fittest’ test in 2020

Jay Clayton is leaving the SEC: SEC Chair Clayton leaving post as top financial regulator

News and notes (Canada)

Nicola Wealth is acquiring a real estate investment company: Nicola Wealth acquires Blackwood Partners

Financial firms disclosing climate-related risks: More firms disclosing climate-related risks, strategies: report

Looking to alternatives: HOOPP bolstering bonds with alternative investments

Use of DSC funds declining: Assets in DSC funds continue to drop in favour of fee-based accounts

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