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Author: Canso Investment Counsel Ltd.

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Canso provides portfolio management services to Canadian institutional and private investors, specializing in fundamental research and security selection. These publications have been prepared by Canso Investment Counsel Ltd. and have been prepared solely for information purposes. Information in these publications is not intended to constitute legal, tax, securities or investment advice and is made available on an “as is” basis. Information in these presentations is subject to change without notice. Canso Investment Counsel Ltd. does not assume any duty to update any information herein. Certain information in these publications has been derived or obtained from sources believed to be trustworthy and/or reliable. Canso Investment Counsel Ltd. does not assume responsibility for the accuracy, currency, reliability or correctness of any such information. These publications may contain forward-looking statements. Statements concerning a fund’s or entity’s objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition are forward-looking statements. The words “believe”, “expect”, “anticipate”, “estimate”, “intend”, “aims”, “may”, “will”, “would” and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from current expectations. Viewers are cautioned not to place undue reliance on these forward-looking statements. While Canso Investment Counsel Ltd. consider these risks and uncertainties to be reasonable based on information currently available, they may prove to be incorrect. Please refer to the Canso website to view our source disclaimers at www.cansofunds.com/publications

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Send us Fan Mail The U.S. Federal Reserve (Fed) entered a new era in May as Kevin Warsh succeeded Jerome Powell as Chair. Powell, who held the position since 2018, leaves the role following an up-and-down tenure. His record is highlighted by how he dealt with the COVID-19 pandemic shock, the inflation surge that resulted in its aftermath and his public clashes with the President. Read the full July 2026 Corporate Bond Newsletter here.
Send us Fan Mail Alan Greenspan passed away on June 22nd. He was 100. Dubbed the “maestro” for his almost two decades as the Federal Reserve chair when the American economy flourished. He got help from his predecessor’s victory over unrestrained inflation and technological changes during the internet era that boosted productivity. Greenspan smartly relied on intuition and data analysis from information that he gathered from businesses, consumers, and investors. Read the entire July 2026...
Send us Fan Mail Oil markets were rocked following President Trump’s initial strikes on Iran. Global benchmark levels quickly rose over 60% in price, surpassing US$100/barrel for the first time since July 2022. As the U.S. and Iran grapple over the Strait of Hormuz, the price of oil continues to whipsaw. Investors are actively assessing the length of the conflict, damage to infrastructure in the region, and the supply response from other areas globally. The market is on a knife’s edge guessin...
Send us Fan Mail The financial and energy markets have run aground in the Strait of Hormuz. We and most knowledgeable experts had no idea that the perceived acclaim, ease and success of Trump’s Venezuelan adventure would lure him into trying his hand at Iran again. Our worries about eventual tariff driven inflation now seem quaint compared to what is going on with Iran’s blocking of the Strait of Hormuz and the damage to the oil industry in the Middle East, neither of which seemed considered ...
Send us Fan Mail The Blue Jays captured the hearts of Canadians this past season with an improbable run to the World Series. And while it ended with the heartbreak of a Game 7 extra-innings loss, the Jays wasted no time in their efforts to run it back, storming into the offseason with bold roster moves. Canadians are now gearing up for the upcoming Winter Olympics in February, where the return of NHL players to Olympic ice promises a thrilling showdown and a chance to reclaim hockey supremacy...
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