Daily Pulse
One of our most accessible tools, this daily comment keeps you abreast of developments on the North American and international financial markets.
Michel Doucet
Vice-President and
Portfolio Manager
June 13, 2025
Canada
As of June 8, there were 799 work-sharing agreements with employers in Canada, up from 399 in November, with over 27,000 Canadian workers participating. The program allows firms to keep workers on their payroll at reduced hours while the government provides income support, and has seen a 75% increase in participation since November. The program has been particularly popular in Ontario and Quebec, with nearly 90% of the arrangements located in these two provinces, which are home to the majority of Canada's factories.
United States
President Donald Trump said he may raise US auto tariffs to boost domestic auto manufacturing, which could increase tensions with trading partners. Trump signed legislation terminating California regulations that would have banned the sale of gasoline-powered cars in 2035, a victory for carmakers and oil companies.
Donald Trump can continue to use troops to deal with LA protests, an appeals court ruled, hours after a judge said the federal government must cease these efforts and return National Guard control to California state leaders. The court set a hearing Tuesday to discuss further action.
Europe
TIsrael launched waves of airstrikes against Iran’s nuclear program and ballistic-missile sites, killing the head of the Islamic Revolutionary Guard Corps and the military’s chief of staff. Oil surged as much as 13% as PM Benjamin Netanyahu pledged more attacks to come. Donald Trump, who was informed of the strikes shortly before, said he hoped Iran would continue negotiating a nuclear deal. Iran vowed to retaliate, sending drones that were intercepted. The UN atomic watchdog said there was no sign of increased radiation at Iran’s main enrichment site.
Sweden will reach a planned new NATO defense spending target of 5% of GDP, PM Ulf Kristersson said.
Asia
Japan’s top trade negotiator expects a trade deal with the US to spare Tokyo from higher auto tariffs, even if Trump increases them against other nations.
China is saddled with the most loss-making industrial companies since 2001, leaving the government grappling with conflicting goals: closing enterprises while also trying to avoid mass unemployment.