|Bid||104.90 x 0|
|Ask||104.91 x 0|
|Day's Range||104.55 - 105.32|
|52 Week Range||90.10 - 107.91|
|Beta (3Y Monthly)||0.98|
|PE Ratio (TTM)||12.14|
|Earnings Date||Aug 21, 2019|
|Forward Dividend & Yield||4.08 (3.90%)|
|1y Target Est||111.93|
Dovish central banks and a potential rebound for Canada’s economy in 2020 makes me bullish on Royal Bank of Canada (TSX:RY)(NYSE:RY) this summer.
This trio of high-yield plays, including Royal Bank of Canada (TSX:RY)NYSE:RY), can provide the fat income you need now.
TORONTO, July 18, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced an offering of $1.5 billion of non-viability contingent capital (NVCC) subordinated debentures ("the Notes") through its Canadian Medium Term Note Program. RBC Capital Markets is acting as lead agent on the issue. The Notes have not been, and will not be, registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S under the Securities Act) absent registration under the Securities Act or an applicable exemption from such registration requirements.
Bank stocks like Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) and Royal Bank of Canada (TSX:RY)(NYSE:RY) have delivered huge returns to shareholders. Learn why investors are excited for the future.
TORONTO, July 18, 2019 /CNW/ - Canadian Boomers aged 50+ share one big concern as they approach retirement, regardless of their personal wealth: they haven't saved enough money. According to the Boomers surveyed for the latest RBC Retirement Myths & Realities poll, conducted by Ipsos, the savings gap varies widely. On average, those with investable assets of $100,000+ want to save $949,000 and so far, are falling over $275,000 short.
TORONTO , July 17, 2019 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced July 2019 cash distributions for unitholders of RBC ETFs. RBC ETF cash distributions for July are as follows: ...
If you're worried about market volatility, you shouldn't be if Royal Bank of Canada (TSX:RY)(NYSE:RY) and other similar stocks make up your portfolio.
But flexibility and customization in benefits are key to improving outcomes in personal and professional aspects of daily life Highlights: 80% of working Canadians report their overall wellbeing would ...
(Bloomberg Opinion) -- Investors are giddy about Amazon.com Inc.’s fast-growing pool of advertising sales, which largely come from merchandise sellers buying commercial messages to make their goods more prominent on Amazon’s website.Calling this “advertising” is true, but also a misnomer that leads investors to imagine a Google-like marketing machine inside Amazon. It’s not – or not yet, at least. Amazon’s advertising is better understood as an additional tax the company imposes on the millions of businesses that sell through its vast digital mall. It’s one more toll extracted from sellers to access the fast lane of Amazon’s beautiful freeway for shopping.Ads may be a justified expense for merchants to access Amazon’s hundreds of millions of shoppers, and it’s a common business tactic to juice revenue. But it’s also risky for Amazon to milk its merchants for a higher effective commission than most businesses of its kind can command. And as regulators and politicians question whether the superpowers of U.S. tech are using their popular services to unfairly advantage themselves, Amazon may pay a cost in reputation the more it squeezes cash from its hold on online shopping. More than half the items bought on Amazon come from independent merchants that sell slacks or bocce sets through the e-commerce king. Amazon in some cases handles a lot of the leg work, in exchange for commissions and other fees. In recent years, Amazon has given those “marketplace” sellers and product manufacturers more options to buy Google-like advertisements, in part based on product searches, for an additional cost. Someone typing "dog beds" into Amazon’s search box, for instance, might first see results from the FurHaven brand or a merchant that resells pet products on Amazon, with an icon that notes those listings are “sponsored.” RBC last year estimated that about one out of every six product results on Amazon’s app was a sponsored listing. Products from companies without paid listings are pushed further down the page.As Amazon kicks off its annual Prime Day fake shopping holiday, it appears the company is offering even more paid product promotions. All those advertisements make up most of Amazon’s $11 billion yearly sales in a category that also includes fees for its branded credit cards. In my conversations with businesses that sell products on Amazon or advise merchants, there isn’t much hostility about Amazon charging them for promotion on top of other fees. Companies realize that paying to make their merchandise front and center on Amazon is a cost of doing business, and they generally say those paid placements generate enough sales to justify the expense. In a survey of businesses that sell on Amazon, the merchant services firm Feedvisor found three-quarters of respondents were satisfied with Amazon’s advertising platform. Ads, of course, also transfer money from merchants to Amazon’s wallet. The company on average takes about 26 cents of each dollar of transactions made by its marketplace vendors, according to Bloomberg Opinion estimates from Amazon’s disclosures. Add in an estimate of Amazon's revenue from the merchants’ advertising — which, again, is mostly an added fee paid by goods sellers and product manufacturers as a cost of doing business — and Amazon’s average haul per transaction likely tops 29 cents on each dollar.(2) In 2015, the company’s take was closer to 20 cents. Other marketplace businesses that connect sellers with customers — eBay Inc., Airbnb Inc. and Grubhub Inc., for example — tend to take an effective commission of 15% to 25% on each transaction, including advertisements if available.(3) Consider that some makers of apps, including Spotify and the company behind the the Fortnite video game, have complained that Apple Inc.’s up to 30% commission on transactions in its iPhone app store is far too high. Amazon itself doesn’t sell its e-books, movie downloads or other digital goods in the company’s iPhone apps, to avoid giving Apple a cut of 30 cents on every dollar — about what Amazon takes from its merchants.To be fair, Amazon is doing a lot of work for its cut of sales. It provides a vast customer base for merchants, often stores inventory for them and handles shipments, and takes responsibility for customer service and payments. That’s arguably far more work than Apple does for its 30% commission on a purchase of an iPhone game.(1) And all advertising is, in a way, a toll levied by a powerful distributor. Businesses buy ads on Facebook and Google to ensure their products and services don’t get drowned out by a sea of other information. Frito-Lay pays a supermarket extra to ensure its chips are on visible spots on shelves. Alibaba and eBay sell ads similar to those that Amazon offers to merchants. There’s nothing particularly unusual about what Amazon is doing in carving out room for merchants to market themselves, for a fee.But there is also something perverse about paying Amazon a kind of tax to make sure your product is seen on Amazon, so people will buy the item on Amazon. Even Google’s ad empire isn’t this kind of a closed loop. And if one Amazon merchant doesn’t purchase an ad, one of its competitors’ dog beds — or Amazon's own brand — might instead nab an eye-catching display and wrest a sale instead. Amazon is just different, in a way that makes typical business tactics a little icky. Amazon’s growing cut from its merchants is one reason why the company's revenue is increasing more quickly than its merchandise sales. Amazon is extracting a bigger share for itself. Like other powerful tech companies, Amazon is able to charge more to the partners that rely on it, because they don't really have a choice. (Updates the “Take a Cut” chart to include an average effective commission for Airbnb instead of the high end of listed commission rates.)(1) This estimate is based on recent company disclosures that for the first time enabled calculations of the total value of goods sold on Amazon's digital mall. My calculation of Amazon's effective commission is the company's 2018 reported net revenue from commissions and other fees paid by marketplace vendors, $42.7 billion, out of roughly $166 billion in total merchandise sales made by those independent merchants. The effective commission including advertising is a rougher estimate, because it assumes 58% of Amazon's "other" revenue of $10.1 billion in 2018 -- primarily ads but also other services -- are paid listings purchased by Amazon's marketplace merchants. (That percentage corresponds to the merchants' share of total sales on Amazon.) The figure may overestimate Amazon's take from merchants, but probably not by much.(2) These companies’ effective take of transactions in some cases isn't entirely comparable to Amazon’s, because they do more or less work for their commissions and other fees. But they each get paid for their role as middlemen.(3) Earlier this year, my Bloomberg colleague Spencer Soper wrote about the mixed feelings among companies that sell on Amazon. Many of them find customers they couldn't have reached without Amazon, but some also grouse about the growing array of fees they pay the e-commerce giant or other downsides of selling goods there. Some merchants told Soper that Amazon is taking upwards of 40% of each sale.To contact the author of this story: Shira Ovide at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
RBC Global Portfolios provide Canadian investors access to global equity and global fixed income markets through RBC GAM's 22 global investment teams TORONTO , July 15, 2019 /CNW/ - RBC Global Asset Management ...
(Bloomberg) -- Treasury Secretary Steven Mnuchin warned House Speaker Nancy Pelosi that the government may run out of cash in early September if Congress doesn’t raise U.S. borrowing authority.“Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes,” Mnuchin said in a letter to Pelosi on Friday. “As such, I request that Congress increase the debt ceiling before Congress leaves for summer recess.”Pelosi said Thursday that Congress should act this month to raise the debt ceiling, which was the first time she offered a definitive timeline. It’s not clear that lawmakers and the White House will strike a deal before the House is set to leave town on July 26 for a six-week recess.Mnuchin and Pelosi spoke twice about the debt limit on Thursday and again on Friday. They will probably speak again over the weekend, according to a Democratic aide.Congressional leaders acknowledged this week that waiting until September to raise U.S. borrowing authority increases the prospects of an unprecedented default. Lawmakers are scheduled to be back in Washington Sept. 9.Republicans, Democrats and Trump administration officials intensified their negotiations this week, and all sides say a deal will get done.‘Significant Risk’The Treasury has been using accounting measures to avoid missing payments since the borrowing limit snapped back into place on March 2. The department’s room to maneuver depends on tax revenue, and the Bipartisan Policy Center, an independent think tank, this week adjusted its estimate to say there is a “significant risk” of defaulting on a key payment in early September.Rates on bills maturing in mid-to-late September rose Friday, while those in early to mid-October have declined. Before the BPC estimate this week, early to mid-October maturities were the securities that had been under pressure as being most under risk of non-payment if the debt ceiling wasn’t increased in time.“You can see now that there’s a little bit of a bulge higher in bill rates in the September time frame,” said Michael Cloherty, a New-York based strategist at RBC, attributing that move to Mnuchin’s letter. “The way Mnuchin phrased it was that there are some scenarios when it can happen in early September, not that it’s the likely one.”The U.S. government will run out of cash and borrowing authority about Oct. 6, meaning payments won’t be able to be fully met if the debt ceiling isn’t increased. Borrowing authority will run too close for comfort before the September corporate tax payments come in, with only about $10 billion of room to spare.The Treasury bill market reflects the risk, with yields on issues maturing in early September and October trading significantly higher than the adjacent parts of the curve. A default of this kind would likely be measured in hours, as Congress can vote to raise the debt ceiling, but it would require various defensive measures by holders of T-bills, such as money market funds.-Ira F. Jersey and Angelo Manolatos, Bloomberg IntelligenceMitch McConnell and Kevin McCarthy, the Republican leaders in the Senate and House, also say Congress should raise the debt limit this month.House Democrats have been trying to leverage the debt ceiling bill to increase federal spending caps, and they were looking to negotiate those caps after their August recess.A spending caps deal, which could cover two fiscal years, would avoid an automatic $126 billion cut at the end of the calendar year. Such an agreement would help the government avoid another shutdown when funding runs out Oct. 1.If the combined debt ceiling and budget deal continues to elude lawmakers, Democrats and Republicans have begun to talk openly of a short-term debt ceiling increase this month while budget talks continue.(Updates with Friday phone call in the fourth paragraph and market reaction in the eighth paragraph.)\--With assistance from Mitchell Martin and Liz Capo McCormick.To contact the reporters on this story: Erik Wasson in Washington at firstname.lastname@example.org;Saleha Mohsin in Washington at email@example.comTo contact the editors responsible for this story: Alex Wayne at firstname.lastname@example.org, Anna Edgerton, Justin BlumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Here is why you should strongly consider adding shares of Royal Bank of Canada (TSX:RY)(NYSE:RY) to your portfolio.
(Bloomberg) -- Treasury two-year yields may slide to 1% by the end of 2020 as the Federal Reserve makes a succession of interest-rate cuts to support growth, Citigroup Inc. says. The dollar is set to slide in that scenario, according to Pacific Investment Management Co.“We’re at a point where we’re weighing whether the Fed will cut for insurance or if they’re entering a period of structural, cyclical downturn in interest rates -- I’m leaning more towards the latter,” said Shyam Devani, senior technical strategist at Citigroup in Singapore. “I wouldn’t be surprised if we see two-year yields dropping to 1% by the end of next year.”Citi is forecasting the Fed will lower its benchmark rate by 25 basis points this month and potentially cut another two times by year-end. “Inflation expectations remain low, we have a global slowdown in growth and commodity prices remain weak,” he said. “The Fed could cut well into next year.” Traders are pricing in close to three quarters of a percentage point of easing by year-end after Chairman Jerome Powell’s dovish testimony to Congress on Wednesday, when he cited slowing global expansion and trade tensions as threats to the U.S. economy. The Treasury two-year yield was one basis point lower on the at 1.82% in New York morning trading after sliding eight basis points on Wednesday.Pimco’s ViewWhether the dollar is poised for a prolonged decline depends on how the central bank positions its July move -- especially if it’s the beginning of a cycle, said Erin Browne, a managing director and portfolio manager at Pimco in Newport Beach, California.“What really matters is, is this an insurance cut or a sustained move lower?” she said in a Bloomberg Television interview on Wednesday. “If it’s a sustained move lower, I think the curve steepens fairly significantly from here and we could start to see the dollar really roll over.”The dollar would be particularly vulnerable against the euro and potentially the yen should the Fed embark on a series of rate cuts, Browne said. The Bloomberg Dollar Spot Index fell 0.3% on Thursday, extending its decline to 1.7% from this year’s high set in May.Powell’s remarks not only failed to push back against the rate cut that’s fully priced in for July, they boosted the rate-cut narrative, Andrew Hollenhorst, chief U.S. economist at Citigroup in New York, wrote in a research note.A 50 basis-point cut in July is a real possibility, though a 25 basis-point move is likely to be the compromise policy outcome, he said.Here’s what other market participants are saying:Dollar Catalyst (BNP Paribas)Powell’s testimony “is a good potential catalyst for a resumption of the USD weakness we saw last month,” analysts including Shahid Ladha saidFlatter Curve (DBS Bank)Treasury yield curve may flatten ahead of Fed’s July meeting as markets are already more than fully priced for an “insurance” rate cut. “I’m biased toward some flattening” in the 2-10 year part of the U.S. yield curve, said Eugene Leow, rates strategist in SingaporeGreenback Winner (State Street)The dollar could climb even after the Fed cuts as investors may start to cover underweight positions. “All the roads point to one result: that the dollar could possibly be the sole winner,” said Bart Wakabayashi, branch manager in TokyoAvoiding Panic (Commerzbank)“A 50bps cut would smack a bit too much of panic,” said Bernd Weidensteiner, economist in Frankfurt. “After the release of a rather strong employment report on Friday, a large step is unlikely”Dollar Gain (RBC Capital Markets)“The dollar would remain as G-10’s highest yielder and that should lend support to dollar in a low vol/carry-obsessed world,” said Daria Parkhomenko, FX strategist in New York(Updates prices, chart.)\--With assistance from Chikafumi Hodo, Masaki Kondo and Katherine Greifeld.To contact the reporters on this story: Ruth Carson in Singapore at email@example.com;Chester Yung in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Tan Hwee Ann at email@example.com, Nicholas ReynoldsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.