Canso Investment Counsel Ltd.

Despite our wonder at what else could go wrong, in the past quarter, things have gotten much worse, both in the U.S. and other parts of the world. Read more in the October Market Observer https://lnkd.in/eqq-NBVv

Another quarter has passed, and we continue to watch corporate credit spreads “Come On In”. The “Spread to Worst” on the ICE BofA U.S. High Yield Index touched 313 basis points (bps) on October 21st, a level not seen since the eve of the Great Financial Crisis. Read more in the October Corporate Bond Newsletter: https://lnkd.in/g7AXHqic

Canso is reminded of all that we are grateful for - our incredible team and clients, as well as our community every day. We wish you all a happy thanksgiving.

On Thursday, September 26th Canso hosted our annual Tony McDermott Dodgeball Tournament supporting United Way Greater Toronto. What a great day supporting a great cause! United Way services and programs touch the lives of so many in our community. We have been proud supporters for over 16 years. A huge thank you to those who participated, donated, and volunteered to make the day such a success. If you’d like to learn more about United Way, check out their work here: https://bit.ly/3zImMr3 #UnitedWay #CommunityPartners #CansoProud #CommunityImpact

Canso honours all Indigenous communities across Canada. We observe and reflect on our commitment to understanding, healing, and continue to work towards an inclusive and equitable future for all.

We brought back the Canso charity golf tournament this year on August 20th in support of Veterans’ House Canada. We thank everyone who participated and donated to Veterans' House Canada and are proud to support their great work. Veterans' house helps homeless veterans build a better future by providing permanent, affordable and supportive housing. To learn more about Veterans’ House, please refer to their website: https://lnkd.in/ecmi4M6H

We’re thrilled that Silvia Da Costa has joined Canso as our new HR Generalist. She’ll be a valuable asset to our team and culture. Welcome Silvia!

The risk of “creditor on creditor violence”, where an improvement for one lender comes at the expense of another, is higher than ever. Read more in the July Corporate Bond Newsletter: https://bit.ly/3LtY5Rk

Our very own John Carswell was interviewed by the CFA Society of Toronto and featured in their quarterly publication The Analyst - June 2024 edition (www.cfatoronto.ca). In the article, John reflects on his career, the experiences that led him to founding Canso and some of his investment predictions that have played out in credit markets. John earned his CFA Charter in 1988 and is currently one of the longest-tenured CFA charterholders still active in the business. John continues to enjoy his investment work but finds the most rewarding aspect to be developing the next generation of bond investors. We are so proud of John’s contributions and lasting legacy in the Canadian investment industry.

"What’s Going On” was the plaintive refrain and title of Marvin Gaye’s 1971 hit song about the controversial Vietnam War and the resulting societal and political upset in the United States. His song of confusion and disappointment seems as relevant to us today. We look with trepidation on the political and social tumult around the world and wonder ourselves what is going on. Read more in our July Market Observer: https://bit.ly/3xSy23a