Canada's Consumer Credit Crisis Deepens as Tariff Clock Ticks Down

Canada's consumer credit picture just turned ugly. Economist David Rosenberg flagged that 37,523 Canadian consumers filed for insolvency in Q2 — up nearly 7% year-over-year and the highest quarter since the tail end of the Great Recession in 2009. Actual personal bankruptcies hit 8,600, up 10.3%. Homeowner insolvencies climbed 5% and now represent nearly one in ten distressed debtors. Residential mortgages in arrears have risen to a decade-high of 40,912 —...