Correction ✏️ — The CPPIB didn’t do that bad. Russian oil is doing okay. And Canada’s housing market may be stabilizing.

The Canada Pension Plan Investment Board (CPPIB) saw its funds drop by 4.2% last quarter or roughly $16 billion—which sounds a lot worse than it actually is.According to the International Energy Agency (IEA), Western sanctions have had a limited impact on Russia’s oil exports, which is also its biggest money maker.The average price of a Canadian home is projected to fall by ~25% by the end of 2023 from all-time highs this past February, per a new report from Desjardins.The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.