Complied By Glen Hallick, MarketsFarm
WINNIPEG, March 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Thursday marks one year since the World Health Organization declared COVID-19 to be a global pandemic. So far, more than 118.15 million people around the world contracted the coronavirus, which has led to approximately 2.62 million deaths, with about 66.95 million recoveries, according to the Johns Hopkins University Coronavirus Resource Center. The United States has continued to lead the world in the number of reported cases at nearly 29.16 million people, as well as deaths, which were approaching 529,300. India has been leading the world in recoveries at about 10.94 million.
– A top North American economist warned that Canada’s housing market “might be one of the biggest bubbles of all time.” David Rosenberg of Rosenberg Research made the remark on Wednesday during an interview with Bloomberg Canada. Rosenberg issued the warning after the Bank of Canada maintained its key interest rate at 0.25 per cent. The economist stressed house prices in much of Canada have increased by double-digit percentages with little movement in people’s earnings.
– As the military in Myanmar continued to tighten its grip on the country’s government, scores of anti-coup demonstrators have been killed by security forces. Among the international condemnation of the coup, the United Nations pleaded with the Myanmar regime to “exercise the utmost restraint.” Also, Amnesty International accused the military of employing battlefield tactics against demonstrations. In response to the criticism, the military junta accused Myanmar’s deposed leader, Aung San Suu Kyi, of taking bribes. The military overthrew the civilian government on Feb. 1, claiming the country’s election earlier in November had been rigged.