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This week, Steven Rattner says AI will transform the economy, but markets still do not know which companies will win. And, Austin’s rent drop is testing whether America’s housing crisis can be solved by building more. Plus, will capping graduate student loans reduce debt or limit access to education?
Later, the US-Canada tariff fight returns as global fertilizer markets are already under pressure from conflict and supply disruptions near the Strait of Hormuz.
Chapters:
00:00:00 - AI Debt Question
00:11:51 - Austin Housing Test
00:23:51 - Student Loan Reckoning
00:35:30 - Canada Weighs US Tariffs
00:47:29 - Tariffs as Tools
Canada’s role in global security took center stage during a major NATO exercise in Norway, where Prime Minister Mark Carney appeared alongside German and Norwegian leaders in a highly significant press conference. The event highlighted Canada’s growing importance in Arctic defense and international cooperation as tensions rise in the High North.
During the press conference, Carney delivered a powerful message about Arctic sovereignty, NATO partnerships, and the need for democratic nations to stand together against emerging threats. His remarks came amid growing concerns about geopolitical competition in the Arctic, where Russia, China, and even controversial proposals from Donald Trump have intensified global attention on the region.
The NATO exercise, involving more than 30,000 troops from 14 countries, underscores how seriously allied nations are taking the defense of the Arctic. Carney emphasized that Canada is investing heavily in northern security, expanding its presence across the region and strengthening partnerships with European allies such as Norway and Germany.
This moment also reflects a broader shift in global politics. Middle powers like Canada are stepping forward to defend democratic values, strengthen alliances, and ensure stability in one of the world’s most strategically important regions.
In this video, we break down the key moments from the press conference, what Carney’s remarks mean for NATO and Arctic security, and why this moment signals a major shift in Canada’s global leadership.
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In this video: Market performance | Trade | Inflation | Energy | Economic outlook
Investor optimism remains strong heading into 2026, underpinned by ambitious earnings expectations.
China’s growing manufacturing presence is reshaping global trade dynamics.
Canada enters 2026 facing a rare demographic headwind, with population growth turning negative for the first time in decades.
Canada enters 2026 amid a shifting global environment where financial markets remain resilient despite rising geopolitical tensions and renewed protectionism. Equity markets continue to draw support from strong investor expectations, even as reindustrialization efforts, particularly in the United States, drive higher demand for energy, electricity and critical inputs, adding to inflationary pressures. At home, Canada faces a rare inflection point as population growth slows materially, placing greater emphasis on productivity, business investment and foreign direct investment as key drivers of economic growth. Sustained demand for key commodities, notably copper and gold, could also provide a source of support for Canadian markets. Nancy Paquet and Stéfane Marion explore these dynamics and what they may signal for markets and the economy in the months ahead.
