The Daily Chase: Financial entities struggle to understand Trudeau's orders; Inflation day in Canada

After waiting more than 24 hours since Prime Minister Justin Trudeau announced his unprecedented use of the Emergencies Act, the detailed regulations were finally released in the Canada Gazette last night.

After waiting more than 24 hours since Prime Minister Justin Trudeau announced his unprecedented use of the Emergencies Act, the detailed regulations were finally released in the Canada Gazette last night. Notably for our purposes, more than a dozen types of financial entities are being told they "must determine on a continuing basis" if they're handling assets for blockade participants who are targeted in the Act. And while Deputy Prime Minister Chrystia Freeland focused her remarks Monday on banks, insurance providers, crowdfunding platforms, and payments systems, the Act also covers investment industry participants such as portfolio managers and “investment counselling services.” The Act also pledges immunity for those entities from civil proceedings. And so now we'll dig even deeper into financial industry reaction.

INFLATION DAY IN CANADA

Economists are expecting to see year-over-year growth of 4.8 per cent in January’s consumer price index this morning, which would match the prior month and keep inflation at the highest level since September of 1991. Heading into the data release, markets are pricing in at least six rate hikes from the Bank of Canada this year, with liftoff expected next month.

SHOPIFY UNDER THE MICROSCOPE

With its shares down 47 per cent since peaking in mid-November, investors will be scrutinizing the e-commerce juggernaut’s quarterly results this morning and any commentary about its fulfillment strategy that stoked some apprehension in the market a few weeks ago. The analyst community sees plenty of upside, with a consensus price target of $1,863.64, which implies a potential return of almost 65 per cent.

BARRICK SCOOPING UP SHARES