If there’s anything investors hate, its uncertainty and when a prime minister resigns, you’d expect some sort of upheaval in public markets. Such was not the case with Justin Trudeau’s departure.
In fact, it looks like the telegraphing of the decision from Liberal party insiders gave the investment world enough time to assess a change at the helm in Ottawa. And, when the official announcement came, markets were basically unfazed.
Sure, the Canadian dollar went up by a half cent, the first time it had a bit of a lift in weeks. That may have more to do with oil prices rising four or five dollars than the PM’s political announcement. After all, nothing is really changing for now …he is staying on for months so Trudeau’s statement amounts to anything but a political upheaval.
The one important bit of news in this, however, is that the proposed changes to the capital gains inclusion rate is likely dead as it died on the order paper with the decision to Prorogue parliament and both its proponents – Trudeau and Freeland – now sidelined.
