RBC Capital Markets hosted the Public Sector Borrowers Roundtable, gathering a group of Canadian SSA issuers to discuss the outlook for the economy, global debt markets, the new political reality, and what it means for Canada’s borrowers.
Highlights from the session included:
- Looking back at how the Canadian economy and those of its provinces fared in 2016, the view was that the economy has performed well, growing modestly in 2016. Several factors support growth for 2017, including stronger US demand; continued accommodative monetary policy in Canada; a lower level of the Canadian dollar; and a relatively healthy labour market.
- Reviewing some of the recent changes to address the strong real estate markets in certain Canadian cities, most of the focus being on Toronto and Vancouver.
- Sharing views on how Canada is perceived internationally, the general consensus was that the Canadian brand continues to be seen very positively by international investors. Canada has the lowest debt to GDP of the G7 countries, is well known for prudent fiscal management, and having a stable political environment.
The session was transcribed by Global Capital as a summary piece and featured in their 2016 Year in Review publication.