Dec.09, 2016
Whitehorse Chamber E-Bulletin “The Voice Of Business”
In This Week’s Edition for Dec.9th, 2016.....
1. New Yukon Government Cabinet 2. Yukon Chamber of Mines Open House / 2017 Yukon Industry Conference 3. TIA Yukon Seeking Stakeholders For Senior Marketing Advisory Council 4. Canada 150 Calling All Volunteers / C.O.W. Waste App 5. 5 Minutes For Business: Mr.Trump And The Economy 6. Santa Land Dec.17th 7. City Of Whitehorse Update 8. Pathways To Wellness
New Yukon Government Cabinet
2017 Government of Yukon Industry Conference
Save the Date February 21–22, 2017 8:00am!–!4:30pm hpw.gov.yk.ca/industryconference
Download the App to receive weekly reminders, find what goes where & enter to win by Nov 27! http://www.whitehorse.ca/wastesortingÂ
5 Minutes for Business
Mr. Trump and the Economy: Making Bond Yields Great Again December 6, 2016
Market reaction to Mr. Trump’s victory has been mixed, but one part of the world economy is unambiguously grumpy! In the past month, a staggering $1.7 trillion has been wiped off global bond markets, surpassing the losses during the great crash of 2009. So what does it mean for Canadian business? After seven years, markets are accustomed to low interest rates—with a sluggish global economy and no signs of inflation, most central banks are struggling to provide support by keeping rates low. But the U.S. economy has been gaining strength. Third quarter GDP grew by a healthy 3.2%, while unemployment has fallen to 4.6%. Essentially, the U.S. economy is at full employment: wages shot up 5.2% in 2015 and are still rising at the fastest pace in years. That’s why markets are certain that the U.S. Fed will raise interest rates on December 14 to cool an overheating economy. And then something came along to shatter our expectations, a “yuuuge” orange surprise named Donald Trump. The trouble is Mr. Trump’s ambitious agenda—it would take an already overheating U.S. economy and pour a bunch of gasoline on it by adding the largest stimulus in U.S. history. This includes spending $1 trillion in infrastructure, reducing the corporate tax rate from 35% to 15% and lowering the top rate of personal income tax from 39% to 25%. Moody’s estimates that this would require a bonanza of borrowing, more than $8 trillion over five years, sending the U.S. debt-to-GDP ratio over 100% by 2021. Now of course we recognize that Mr. Trump is not likely to get everything he wants. Some compromise will be required for the budget to gain passage through the House and Senate. But even if they whittle his budget down significantly, investors see that the U.S. government will have to sell a massive wall of bonds next year to finance soaring deficits. That is why yields shot up so violently, the most since 2009.
Fly Like an Eagle 2.5
10-year Govt Bond Yields (%)
2 1.5 1 0.5 0 2015
USA Canada 2016
Nov. 8, 2016
Who cares if bond yields rise? We do. Canadian rates closely follow those in the U.S. More importantly, mortgage rates are linked to the 10-year bond yield, which is roughly the banks’ cost of funds to lend longterm money. That’s why U.S. mortgage rates went up by 0.5% in November, and Canadian rates gained 0.3% All this means that the Trump deficits will raise the cost of borrowing for business and consumers, a significant drag across the U.S. economy that will offset much of the stimulus. Higher interest rates will also attract capital inflows and boost the value of the U.S. dollar while anti-NAFTA threats push down the currencies of key trading partners (Mexico’s peso fell 11% while the CAD slipped 3%). This means that, in 2017, Canadian business will see stronger export demand from an over-stimulated U.S. economy and a weaker loonie. Business investment will be weak because of uncertainty surrounding NAFTA. This means producing more exports with less investment—a tall order. So buckle up because 2017 will be a wild ride for Canadian business! For more information, please contact: Hendrik Brakel Senior Director, Economic, Financial & Tax Policy 613.238.4000 (284) | hbrakel@chamber.ca
December 9, 2016
Santa Land & Festival Lights Tour This exciting event is taking place at Shipyards Park on Saturday, December 17 from 3:30 - 6:30 pm. Bus Tours depart at 4:30 and 5:30 pm. Visit whitehorse.ca/ specialevents
Last 2016 City Council Meeting The next Regular Council Meeting is December 12, 5:30pm in City Hall Council Chambers. View whitehorse.ca/agendas for Council and whitehorse.ca/CASM for CASM meetings.
2017 Winter Active Living Guide Program registration is now open. Learn more and register online at whitehorse.ca/activeliving
Cold Commute Tips The peak morning and evening commuting periods are now in darkness. We can all do our part to promote safe travel on City streets. See more at whitehorse.ca/coldcommute
Canada Games Centre Survey During the fall season we have implemented some changes in the Ducklings Program (formerly Little People). Your feedback is important and we look forward to your responses. Take the survey at whitehorse.ca/cgcnews
Chimney Fire Safety Citizens are reminded to inspect and clean their wood stove chimney to prevent a chimney fire. Get wood burning tips at whitehorse.ca/woodburning
New Year’s Eve Countdown Volunteers
To mark the New Year and the 150th anniversary of Confederation, on Saturday, December 31, celebrations will be bigger and better than ever this year, thanks to Canada 150 funding. Join us as a volunteer! See more details at whitehorse.ca/volunteer
Senior Utility Rebate
whitehorse.ca
Seniors aged 65 or over may be eligible for this program which provides a discount from fees paid under the water, sewer and garbage services, up to a maximum of $500 per year. Visit whitehorse.ca/grants and apply before December 31.
Pathways to Wellness e-Tips conversation • connection • commitment
Contact Info: Contact us at www.yukonwellness.ca/ contactus.php
Our Location 201 - #1 Hospital Road, Whitehorse, Yukon
Meaningful Gifts Gift giving is an important part of the holiday celebrations and it's wonderful to get a gift that has been carefully selected with you in mind. But, too often we buy at the last minute, spend more than we want, and lose sight of what matters most in the rush leading up to Chrsitmas day. You can give something meaningful, use your creativity, and control your pocketbook - all at the same time! Here are some ideas to get you started: •
Offer an evening or two of babysitting for young parents • Give a used book that you've really enjoyed with a handwritten note (or book review) • Make a contribution to a local charity in the recipient's name (so they get the tax deduction!) • Make homemade granola, trail mix, or other healthy food • Be a walking buddy every Saturday morning Think about what's important to you as a gift-giver and what's important to the recipient, and the value will be about meaning instead of material goods.
Mail: Pathways to Wellness, H-1 Health and Social Services Yukon Government Box 2703, Whitehorse, Yukon Y1A 2C6 E-mail: yukonwellness@gov.yk.ca Jan: 867-667-3674