Financial Briefs

Breaking financial news from Wall Street to Main Street

Bailout ‘good news’ for Canada’s oil economy: CIBC

Posted by financialbriefs on September 23, 2008

The $700-billion (U.S.) Wall Street bailout the U.S. government is trying to ram through Congress is “unambiguously good news” for Canada’s energy-levered economy, even though it will leave Americans facing higher taxes, inflation and interest rates, CIBC World Markets’ chief strategist Jeff Rubin said Tuesday.

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