GOOD DAY FOR: Loonie banking, after a World Economic Forum survey found that Canada has the world’s soundest banking system. Britain, once in the Top 5, came in at No. 44, while the U.S. ranked 40th. Rounding out this year’s Top 5 are Sweden, Luxembourg, Australia, and Denmark. (Reuters)
BAD DAY FOR: Happy anniversaries, as the Dow Jones Industrial Average hit its record high a year ago today; yesterday it closed down 189 points, to a five-year low, continuing a six-day, 15 percent slide. The coordinated interest rate cuts were like a timely ambulance arriving, said Art Hogan at Jefferies & Co. Traders were relieved, but “then they stop and think . . . right, we need an ambulance.” (The Wall Street Journal)
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Groypers: the alt-right group pulled into the foregroundThe Explainer The network is led by alt-right activist Nick Fuentes
-
10 concert tours to see this upcoming fallThe Week Recommends Concert tour season isn't over. Check out these headliners.
-
How to put student loan payments on pauseThe Explainer If you are starting to worry about missing payments, deferment and forbearance can help
