Five things you should know before starting your work day on Dec. 12

Specialist Michael Pistillo watches the bond yield screens at the NYSE. One of the most reliable warning signals of a downturn has resulted in lower returns for ETFs.Richard Drew / Associated Press

Good morning once again! We’ve got a handful of Canada-centric stories today, from a West Coast tanker bill that could disrupt an exceptional pipeline plan, a change of operations at Enbridge, how cannabis investors could fare next year, why ETFs are losing direction, and why an iconic Canadian brand is suffering for the Huawei arrest.


Trudeau’s tanker ban is making Indigenous communities angry. Here’s why: Eagle Spirit is a First Nations business consortium that aims to build the greenest pipeline energy corridor on the planet. It could ship four million barrels of crude oil and 10 billion cubic feet of natural gas to tidewater every day, Richard Neufeld writes — but tanker ban Bill C-48 is before the Senate. If it passes, Eagle Spirit and this historic, generational, nation-building effort (given that it will be the first Indigenous-led major infrastructure project in Canadian history) could be dead. Because no tankers, no pipelines.


Canada Goose shares got hit by China’s anger over the Huawei arrest. While the stock fell 1% yesterday, its Hong Kong rival jumped 6.5%. Canada Goose has fallen 20% over four days; Bosideng has climbed 13%. Chinese consumers were urged by the Weibo social-media platform to boycott Canadian brands — and Canada Goose’s labelling clearly shows it to be a Canadian product.


Crop failures, bankruptcies and U.S. competition: Victor Ferreira looks at why 2019 could be a complicated year for cannabis. It’s time to separate the winners from the losers — and here’s what four experts say investors can expect.


Enbridge says it’s going to squeeze as much as 100,000 more oil barrels into its main pipeline by summer to help lift prices. And it’s going to hike its dividend, simplify its corporate structure and its debt financing operations, CEO Al Monaco said. Enbridge also plans to switch to a long-term contractual system from a spot-market style. Geoffrey Morgan wonders about its strategy for that.


Rising interest rates are wreaking havoc on fixed-income ETFs. Canadians’ conservative nature finds them “inopportunely” and often unknowingly changing up interest rate risk for credit risk, Victor Ferreira writes. They’re just in search of better returns, but risk is coming from all directions these days. “You’ve got nowhere to hide.”