News of the day: Big Six bank valuations, slow economic growth, U.S. capital flight, inflation on the rise, recreational property buyers, workplace conflict and more

Investors are pricing in fairly high profit expectations for Canadian banks, which report earnings in the last week of May. Photo by Getty Images

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It’s Tuesday, May 19. Here are the top stories we’re following today.

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The share prices of Canada’s biggest banks have surged over the past year as global investors look to diversify and park their money outside of the United States amid economic uncertainty, a falling U.S. dollar and high valuations, but some analysts are questioning whether that trend can help continue the rally.

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A Canadian flag flies from a Harbour Authority patrol boat as the Nord Steady oil and chemical tanker is guided by tugboats out of the Port of Vancouver. Photo by Darryl Dyck/Bloomberg files

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Canadians think a lot of ourselves but our self-images are put in doubt by incomes falling further and further behind the U.S, writes Philip Cross.

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The empirical record is plain. The wealthy move if they feel their capital will be treated better elsewhere. Photo by Chris Ratcliffe/Bloomberg

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Former Citicorp Inc. chief executive Walter Wriston once said “capital goes where it’s welcome and stays where it’s well treated.” The line has become tax-policy wallpaper. It is, nevertheless, the most useful sentence for thinking about what is unfolding in some jurisdictions, including certain states south of the border.

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The price of regular gasoline selling at $1.77.9/litre at the Petro Canada gas station in the Lachine borough of Montreal on April 20, 2026. Photo by John Mahoney / MONTREAL GAZETTE

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Canada’s inflation rate rose to 2.8 per cent in April as higher energy prices caused by the war in Iran continued to drive up fuel prices, Statistics Canada said Tuesday.

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According to a survey, 45 per cent of prospective Canadian buyers planning to buy a recreational property said they view the purchase as an entry-point into the broader housing market. Photo by BRUNSWICK NEWS ARCHIVES/Postmedia

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For many Canadians, the Victoria Day long weekend signals the unofficial start to cottage season. However, this year, recreational real estate is attracting a demographic of buyers looking beyond the traditional vacation property.

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Workplace feedback is important, but increasingly managers are avoiding it for fear of conflict. Photo by Antonio Guillem /Getty Images

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Employers now operate in an environment shaped by human rights legislation, workplace investigation requirements, reprisal protections and escalating reputational risk. Routine management decisions that once relied primarily on judgment and experience are increasingly filtered through legal, HR and institutional risk frameworks. The consequence is not necessarily weaker but more cautious leadership.

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