Bay Street Edition

Trump’s Security Strategy Provides Another Shock for Canadian Business

Also this week: CEOs and the books they love

The new US National Security Strategy lays out a “Trump Corollary to the Monroe Doctrine,” a vision of dominance of the Western hemisphere that should leave Canadians concerned, experts warn. Photographer: Aaron Schwartz/CNP/Bloomberg

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By Christine Dobby

December 12, 2025 at 3:29 PM UTC

Welcome to Bay Street Edition, our weekly newsletter devoted to what’s happening in Canadian finance, covering strategy, deals, people moves and economics.

I’m Christine Dobby, Bloomberg’s Toronto-based banking reporter, and you’ll find me in your inbox every Friday. This week, we’re talking about why Canadians should be worried about the new “Trump Doctrine,” BMO’s search for a new US M&A leader and the landscape for Canadian deals. Plus: add some books to your reading list.