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Darcy Keith

The Globe and Mail (theglobeandmail.com)Canada
Interested in
Analyst CallsInterest RatesBond MarketsInvestor Education
About

Darcy Keith covers financial markets with an emphasis on actionable investing coverage that connects analyst calls, interest-rate expectations and market moves for readers of The Globe and Mail. As investment editor, he leads investing sections across platforms, shaping stories that translate complex market and central-bank developments into clear roundups and features for active investors. His work consistently focuses on what shifting data, forecasts and valuations mean for stocks, bonds and portfolio strategy rather than on market news in isolation.

Analyst upgrades and downgrades

A defining strand of Keith’s coverage is a steady series of “analyst upgrades and downgrades” roundups that track rating and price-target changes across major Canadian and U.S. stocks. These pieces appear multiple times a week and aggregate calls from firms such as Canaccord Genuity, BofA Securities and Oppenheimer, highlighting shifts in recommendations and targets on names from gold miners to global technology leaders.

The roundups summarize why analysts are changing their views, tying revisions to events such as company site visits, earnings surprises or broader sector trends.

He writes these as concise market tools, flagging notable moves and giving investors a quick way to scan how professional opinion is evolving across sectors. Over time, this series has become a core part of his beat, anchoring his reputation around close tracking of analyst research and its trading implications.

BoC rate moves and inflation data

Keith also focuses on how economic data and central-bank decisions feed into market pricing and economist forecasts, with particular attention to the Bank of Canada.

His coverage of rate expectations examines how inflation releases and policy statements shift market bets on future moves, including pieces on how odds of rate cuts or hikes change after softer or hotter inflation reports. In live and follow-up reporting on Bank of Canada decisions, he compiles commentary from macro strategists and economists, explaining how they interpret the bank’s balance of risks and forward guidance. These articles link the bank’s language to movements in the currency, bond markets and interest-rate futures, showing where market pricing aligns with or diverges from expert views. The subject line “How market bets and economist views for BoC rate moves have shifted in the wake of Monday’s inflation data” reflects his method: pairing market reaction with detailed economist analysis to map the path for policy and borrowing costs.

This strand of his work is aimed at readers who need a clear read on how policy and data translate into real-world rate expectations and trading opportunities.

Bond yields and global market shocks

Beyond domestic policy, Keith reports on major global market shocks, especially in bond yields and commodities, and their impact on Canadian equities and fixed-income portfolios. In a recent article on the U.S. 10-year Treasury yield surging to its highest level since 2007, he connected the move above 5 per cent to sharp declines in Canadian stocks and bond prices, framing the yield as “the world’s most influential bond yield.” His coverage explains how rising yields reprice risk assets and what that means for investors holding diversified portfolios of stocks and bonds.

In another piece, he reported on oil prices spiking amid heightened tensions involving Iran, noting the concurrent rise in bond yields and fall in stock markets, again tying geopolitical shocks to cross-asset market reactions. These stories show a consistent approach: isolate the key global driver, quantify the move in yields or commodities, and then spell out the effect on local markets and investor positioning.

This combination of macro context and market detail distinguishes his reporting from more general business coverage of the same events.

Investor tools, education and long-term beat experience

Keith’s role extends beyond daily market stories into overseeing investing coverage and tools, including investor Q&As and portfolio resources. He has participated in Globe-run question-and-answer features on how to brace for potential market downturns, discussing topics such as value investing, commodities, ETF selection and strategies for volatile years.

Earlier in his career at the paper, he helped run the Globe Investor site and hosted live discussions explaining the Watchlist portfolio-tracking tool, walking readers through how to use it and inviting feedback on improvements. He has also contributed to investor education features on shifting investment strategies, fielding audience queries on retirement planning, debt management and personal finance alongside other experts.

His work includes organizing and presenting insights from Canadian fund managers on their top stock picks and portfolio advice for specific years, giving readers direct access to professional money managers’ views. Keith has been a business journalist since 1992 and has led investing coverage at the paper since 2010, bringing more than three decades of experience to the way he selects stories and frames risk and opportunity for investors.

His investment reporting is occasionally carried by other outlets, extending the reach of his market and rate coverage to regional business audiences.

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Aditya Rangroo

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Anam Khan

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Anand Sinha

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Canada·Finance
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