Global Markets: White House denies report of border re-opening

WINNIPEG – The following is a glance at the news moving markets in Canada and globally.

– The White House has made no decisions yet on when to re-open its border with Canada, Press Secretary Jen Psaki said in a news conference on Thursday. This is in contrast to a media report from Point Roberts, Wash. which cited anonymous sources within the United States Customs and Border Protection saying the closure would end by June 22. Last week, it was announced restrictions would be in place until June 21. Officials in Canadian Prime Minister Justin Trudeau’s office insisted it would take 75 per cent of Canadians to be vaccinated before restrictions can be lifted. So far, 53.5 per cent of Canadians have received at least one COVID-19 vaccine dose.

– National Bank of Canada is reporting a profit of C$321 million during the fiscal second quarter of 2021, more than five times than what it was during Q2 in 2020. As a result, net income more than doubled to C$801 million. The gains were the result of increased mortgage lending due to strong housing demand in the bank’s home base of Quebec.

– Consumer prices in the U.S. went up year-to-year by 3.1 per cent through April, according to the personal consumption expenditures (PCE) price index. The rise indicated underlying inflation as the U.S. Federal Reserve had previously targeted a rise of only two per cent. The PCE price index increased 0.7 per cent last month and 0.4 per cent in March.

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