Hello, dear reader! I’m hopped up on caffeine right now, and I’ve been thinkin’: aren’t stimulants great? While pumpkin spice ain’t my preferred vehicle for psychoactives, allow me to honour the season with my favourite historical theory: that coffee triggered the Age of Enlightenment by replacing alcohol as the social beverage of choice, stimulating thought, and popularizing coffeehouses as venues where great thinkers gathered to debate. So, as you sip on that autumnal goodness, marvel that you tread the same path as Voltaire and Kant! No pressure.

– Martin Molpeceres, Social Video Producer

The takeaway: The markets spent this week torn between good news and bad news. The good news: investors are still excited about AI, pushing the S&P 500 and Nasdaq to record highs. The bad news: the TSX mostly missed that rally, gaining little through Tuesday before dropping on Wednesday as base metals sank. Also not great: oil prices and US Treasury yields stayed high – the 10-year yield hit its highest level since 2002 this week, and higher rates make stocks less appealing. Thursday’s 30-year bond auction cleared at a higher yield than September’s, and stocks slipped back below their peaks.

The Canadian public is all about buying Canadian. The Canadian government? Not so much. 

When Trump’s tariffs first hit Canada in February 2025, 78% of Canadians intended to limit their consumption of US products. Now, 19 months later, Abacus has released a new report suggesting the public hasn’t yet tired of googling brands and checking labels: Today, 77% of Canadians still intend to buy fewer American products. 

As for how intentions translate to actions, Abacus reports that “every avoid-American behaviour,” from cancelling American vacations to unsubscribing from American streamers, is more common now than it was in February of last year.

But there's one Canadian who doesn’t seem to be following the trend: Mark Carney. Look, we don’t know whether Carney prefers Netflix or CBC Gem, but we do know that, according to the Toronto Star, his government has awarded roughly $7.8 billion (!) in federal contracts to American-controlled companies, with tech companies like Microsoft and defence companies like L3Harris securing some of the loftiest deals. (In Canadian dollars, but still!)

Before Carney came into power, American companies received roughly 20% of the funds allocated to Canada’s major contracts; during his tenure, that number has risen to 31%. So, while Canadians go all-in on their Crave subscriptions, Carney isn't quite 'elbows up' when it comes to multimillion dollar government contracts.

Bottom Line: Carney’s ‘buy Canadian’ rhetoric has obviously resonated with the public, so much so that we’ve actually maintained our inconveniently principled shopping habits over the last year and a half. But the government hasn't quite put its money where its mouth is. 'Elbows partway up' doesn't have the same ring to it.

by Sara Harowitz

This is an excerpt of an article originally run in full on The Margin.

Unlike most of its competitors, Toronto’s Throne Barbershop doesn’t make its money by renting out its chairs to independent groomers. Instead, the luxury shop operates on a commission model that offers more earning potential to both the business and its barbers. This also, according to co-owner Marcus Backun, creates a more cohesive, long-lasting, and satisfied team.

“There’s a lot more consistency with the staff,” says Backun. “With chair rentals you might get someone on a three-month term. But we get people that’ll be with us for years and years because we bump them up in commission and take care of them. I find when you’re doing chair rentals, it’s more transactional.”

The vast majority of Throne’s money comes from its men’s grooming services – haircuts, beard trimming and shaping, and braiding – which typically range from $70 to $90, but can go higher. Those offerings, Backun says, make up about 90% of the company’s revenue.

The remaining 10%, about $50,000 to $80,000 annually, comes in a few different ways. First, Throne sells some of the salon products for at-home use; a small handful are usually sold per week. Throne also rents out its shop – a modern space with a masculine, industrial aesthetic – for corporate events and brand activations, and books its barbers on commercials and campaigns (typically charging between $500 and $2,000 per barber per day, depending on the scope of the project). Past clients include the NHL, Universal Studios, and Dove.

Read more

Martin Molpeceres: The air is getting nippier, and flu season is off to an early start. I can’t think of a better time to issue this plea to our readers and the country writ large: Stop saying 'bless you' when I sneeze.

Growing up in Latin America, I heard nary a 'salud' nor a 'gesundheit' to save my life. Boy howdy, did I ever get slapped with culture shock when I came to Canada and my bodily functions were suddenly an iron-clad social contract. I tried to ignore everyone saying ‘bless you,’ I really did. But I quickly learned that not offering a limp 'thank you' in return somehow made me the jerk. God forbid I get a real maverick who busts out a separate 'bless you' for every individual sneeze. I got blessed the first time, pal! I am plenty blessed!

The origins of 'bless you' are rooted in the bubonic plague, when a sneeze was an express ticket to the pearly gates and the best we could do was beg for God’s mercy. But the plague is over (uh, we hope) and whatever god(s) you believe in are probably pretty busy. Why are we bothering them with sneezes? We have wondrous technology like indoor plumbing and Labubus! Are we humans truly modern peoples, or are we mere cowering peasants? Let's unshackle ourselves from superstition and leave 'bless you' behind!

I wish I could cite exactly why I feel so strongly. I wish saying 'bless you' were problematic or bad for your carbon footprint. But no. This is just a me thing. When I cough or rip a fat fart, you’re all more than happy to pretend it never happened. All I ask is you give my sneezes the same courtesy. For flu season 2026, let’s finally kill the 'bless you.'

From The Margin group chat:

If you liked this newsletter, hated this newsletter, or are totally indifferent to it, hit the reply button and tell us why! We’re so lonely.

This week’s contributors: Sara Harowitz (writer), Tyler Haw (audience engagement), Amarah Hasham-Steele (staff writer), Shazia Khan (social media strategy manager), Anthony Milton (content lead), Martin Molpeceres (social video producer), Kat Angus (deputy editor), and Eric Wainwright (editor in chief).

Important Legal Disclosures
"The Margin" is a financial news and media platform published by QuestMedia Inc. and is a member of the Questrade Group of Companies. Questrade Group of Companies means Questrade Financial Group and its affiliates that provide deposit, investment, loan, securities, mortgages and other products or services. Our editorial team operates independently, though "The Margin" may promote Questrade services and receive promotional benefits when users click provided links or open accounts.
Not Investment Advice & Risk Warning: All content is for informational and educational purposes only. "The Margin" is not a registered investment adviser or broker-dealer. Nothing published constitutes a recommendation, solicitation, or offer to buy or sell any security, or to engage in any investment strategy. Trading securities—especially on margin—involves significant risk and can result in the loss of your entire investment. Please consult a qualified financial or tax professional before making any investment decisions.
Limitation of Liability: Content and market data are provided "as is" without warranties of any kind. "The Margin" and its affiliates assume no liability for your trading results or data inaccuracies. Contributors to "The Margin" may hold positions in the securities discussed.
Your personal information is handled in accordance with the Questrade Financial Group Privacy Policy. You may withdraw your consent to receive these emails at any time by clicking "unsubscribe."