Macro
15 articles filed under Macro, newest first.
How OTC Markets Work for Canadian Companies: OTCQX, OTCQB and Pink
Why Canadian listed companies trade in the U.S. on OTC Markets, how the OTCQX, OTCQB, OTCID and Pink tiers differ, and the SEC exemption behind it.
Canada’s Resource Economy by the Numbers: GDP, Exports and Jobs
Mining and energy’s share of Canada’s GDP, exports and jobs, with dated NRCan and Statistics Canada figures and a look at how prices swing the totals.
How the Bank of Canada Sets Interest Rates: Process, Schedule and Target
How the Bank of Canada decides its policy rate: the 2% inflation target, the eight fixed announcement dates, the Governing Council process and the 2026 renewal.
Why Central Banks Hold Gold: A Short History of Gold in Official Reserves
Gold went from anchor of the monetary system, to an asset central banks sold, to one they bought above 1,000 tonnes a year from 2022 to 2024.
Tax-Loss Selling on the TSX Venture and CSE: How It Works in 2026
The last trade date for a 2026 capital loss is December 30 under T+1. The rules, the superficial loss window and the historical pattern.
Canada and US Trade in 2026: Tariffs, Resources and What Changed
A dated timeline of 2026 U.S. and Canadian tariff actions on metals, energy and critical minerals, plus where the CUSMA review stands.
What Drove Gold’s Move From July to September 2026
Gold was flat in July, rose 13.3% in August on ETF and futures buying and a softer dollar, then cooled after the Fed hiked on Sept 16.
Bank of Canada Rate Decisions in 2026 and What They Mean for Small Caps
The Bank of Canada has held at 2.25% at all six 2026 decisions. A dated table of each call, why the Bank held, and the remaining announcement dates.
Gold and AI: Can a Tech Boom and a Safe-Haven Metal Rally Together?
A dated look at gold, the Nasdaq and real yields in 2026: when they moved together, when they split, and the mechanisms behind each.
Market Cap vs Enterprise Value: Which One to Use for a Small Cap
Market cap is the equity price. Enterprise value is the price of the whole business. On a small cap with debt, the gap between them is the whole story.
The μ Letter, Sunday, July 12, 2026
Bombs fell and gold went down
May 2026 Market Overview: Oil, Small Caps and the Fed
What moved markets in May 2026: oil’s retreat, the small cap rotation, the Fed on hold, and gold and silver consolidating after record highs.
Sovereign Debt, the Petrodollar, and Why Central Banks Keep Buying Gold
The story of 2026 is not the stock market. It is the bond market.
Canadian Small Caps 2026: TSXV, CSE and TSX Explained
A look at Canada’s three small cap markets in 2026: the record TSXV run, critical minerals, the CSE, and where the opportunity sits.
The Crisis Hidden Behind the War: Private Credit’s Reckoning
While headlines track oil prices and missile strikes, a $1.8 trillion market is quietly freezing its investors out. Here is what the numbers say, and what…Other categories
The μ Letter
Research notes by email. Free. No paywall. Sponsorships disclosed.
Micro Math Capital is published by Apollo Shareholder Relations for informational purposes only and is not investment advice. Apollo provides paid investor relations services and may be compensated in cash or securities by companies in the sectors discussed. Read the full disclosures.