Canadian Traders Pivot to Safe Bets as Tariff Threats Ramp Up
- Money managers focus on precious metals, cash, and US bonds
- Domestic companies with less US exposure are also top picks
A Canadian Pacific train carrying coal departs a rail yard in Revelstoke, British Columbia.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
Canadian money managers are gearing up for more turbulence in trading this week after an escalating trade war sparked Monday’s sharp selloff.
Bay Street money managers are moving into safer assets after US President Donald Trump moved towards finalizing tariffs against Canada with an executive order over the weekend. Canada responded by promising that retaliatory tariffs would begin Tuesday. Investors are focused on assets like precious metals, cash and bonds in US dollars. Market strategists are also leaning toward recession-resilient domestic companies.