It is the 20th of September 2019

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Sears Canada Liquidates: 12,000 Canadians To Lose Their Jobs

12,000 jobs may not sound like much but that's roughly how many jobs Canada adds to its economy each month. Only in this case, that's how many workers are about to find themselves without a job because overnight Sears Canada announced plans to liquidate its remaining 150 stores instead of restructuring, the latest admission of brick and mortar defeat in the war with Amazon, with the result some 12,000 job losses in the coming weeks.

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Mega-Bears Smell Blood As REITs Tumble

While many have blamed today's spike in yields for the broader underperformance of the REIT sector, which sent the Bloomberg North American REIT index down 1.4%, its biggest one-day drop since December in a widespread selloff across all property sectors with 194 of the 214 stocks in the index lower today, it's more than just the jump in rates that is slamming the rate-sensitive sector.

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