Surge in trading activity helps offset many negative effects of Covid-19
Global investment banks' strong capital positions are expected to hold
One-third of ratings actions in 2019 involved ESG considerations
Regulatory relief has positive and negative consequences
Canada's fiscal efforts will cushion the blow and set the stage for a rebound
Covid-19 to deter issuance in short-term, but outlook is promising
Revisions to capital rules and stress tests weaken the regime, the rating agency says
Banks mull climate risks but provide little financial data
Industry faces higher claims and negative market impacts
The rating agency sees Canada's default rate declining amid stronger corporate liquidity