Good morning. If a picture tells a thousand words, a good chart can convey an equal abundance of insight, which is why we asked scores of experts to pick their charts to watch for the economy in the year ahead. That\u2019s in focus today, along with a closer look at oil after the capture of Venezuela\u2019s leader. <\/p>\n
Up firstIn the news<\/p>\n
Opinion and analysis: On Donald Trump\u2019s plans for Venezuela, or rather the lack of them<\/a> \u2013 and why it could be a negative for Canada\u2019s oil industry<\/p>\n Insurance: Ottawa launches consultations<\/a> with the insurance sector on earthquake costs and homeowner coverage <\/p>\n Technology: Toronto-born entrepreneur wants to bring<\/a> counter-drone tech home as Canada focuses on defence <\/p>\n Open this photo in gallery:<\/a><\/p>\n rb-cd-charts-to-watch-in-2026Illustration by Matthew Billington<\/p>\n In focusCharting the year ahead <\/p>\n Hi, I\u2019m Jason Kirby, an economics reporter with The Globe and Mail and avowed chart nerd. <\/p>\n Around this time of year, for more than a decade, I\u2019ve reached out to dozens of economists, analysts and business leaders with a request: Pick a chart you think will be important for the coming year and briefly explain to our readers why.<\/p>\n And each time, they\u2019ve responded in droves. This year was no different, with experts sending me almost 60 charts on everything from weak business investment and rental home construction to stablecoins and potholes.<\/p>\n For this year\u2019s chart collection we divided the submissions into seven broad categories. Here\u2019s a sample from several of those to give you an idea of what\u2019s on offer.<\/p>\n Housing<\/p>\n After a spectacular run-up in prices, the past few years have been difficult for the housing market, notes Robert Kavcic, a senior economist with BMO Capital Markets. And a number of strong headwinds remain in place, from lower immigration to the evaporation of speculative fever now that rock-bottom borrowing costs have normalized. <\/p>\n<\/p>\n By putting the current market in the context of Ontario\u2019s market in 1990 and the U.S. housing correction in 2007, he argues, \u201cThe long process of resetting valuations, from affordability and investment perspectives, is now well underway \u2026 and not quite done yet.\u201d <\/p>\n See more housing charts here<\/a>.<\/p>\n Trade<\/p>\n Canada\u2019s ability to diversify its exports away from its dependence on the U.S. market was a big theme among this year\u2019s chart contributors, given what\u2019s at stake in 2026 as the trade war drags on and the North American trade agreement comes up for review.<\/p>\n<\/p>\n As Beata Caranci, chief economist with TD Bank notes, Canadian companies are \u201csucceeding in rotating their export markets faster than many analysts expected. Tapping into 27 trading partners, Canadian firms have recovered nearly $11-billion of the $18.5-billion loss to the United States. However, the nature of trade has shifted, leaving industries in the winner and loser column.\u201d <\/p>\n See more trade charts here<\/a>.<\/p>\n Jobs and households<\/p>\n Canada\u2019s job market in 2025 fared better than many people expected when the trade war with the U.S. broke out. One of the charts in this year\u2019s package from Scotiabank economist Derek Holt even shows that the Canadian job market has outperformed that of the U.S. this year. <\/p>\n Still, there\u2019s no sugarcoating the fact that job prospects in Canada have deteriorated. <\/p>\n<\/p>\n This chart from Brendon Bernard, senior economist at online job listing company Indeed.com, captures one facet of that weakness: the rate of people switching jobs fell to new lows in 2025, in part reflecting fewer opportunities. As Bernard notes, \u201ca healthy rate of labour market churn is an important feature of a dynamic economy, so reversing the decline in the job switching rate will likely be an important part of getting the Canadian labour market out of its current funk.\u201d <\/p>\n See more household spending and job market charts here<\/a>.<\/p>\n Markets<\/p>\n As Alexander MacDonald, a portfolio manager with Focus Wealth Management, notes, the 2025 boom in all things AI-related created a bifurcated market of have and have-not tech stocks on the S&P\/TSX Composite Index, with the gap in performance between the best-performing and worst-performing Canadian tech stocks at the widest margin in two decades. <\/p>\n<\/p>\n If the AI boom continues, the winners could keep winning. But given the extreme energy demands from AI alone, \u201cif physical or financial limits do end up causing the pace of AI\u2019s development to slow, today\u2019s have-not stocks may become tomorrow\u2019s haves.\u201d <\/p>\n See more market charts here<\/a>.<\/p>\n ChartedAn oil giant fixer-upper<\/p>\n After U.S. forces captured Venezuela\u2019s socialist leader<\/a>, Nicol\u00e1s Maduro, Trump vowed U.S. oil giants would \u201cgo in, spend billions of dollars to fix the badly broken infrastructure\u201d of the country\u2019s oil industry. No one, other than apparently Trump, thinks it will be easy, and Venezuela\u2019s oil production has suffered badly since the mid-2000s. But if successful, Venezuela, which has the world\u2019s largest oil reserves, could pose a competitive challenge to Canadian oil exports<\/a> to the U.S.<\/p>\n Opinion: A Venezuelan oil reset<\/a> is an economic risk Canada cannot ignorePolicy: Canada, allies should decry Trump flouting international law at Paris summit<\/a>, experts sayQuoted<\/p>\n I have a job. There are a lot of artists who don\u2019t. I want to get that money to artists in a way that can be impactful, in the same way this experience has impacted me.<\/p>\n \u2014 Siminovitch Prize winner Ravi Jain<\/p>\n Ravi Jain has had a milestone year in Canadian theatre <\/a>\u2013 and he\u2019s not slowing down any time soon. Both he and his collaborator Miriam Fernandes say they plan to put their $25,000 Siminovitch Prot\u00e9g\u00e9 Prize earnings in the hands of other artists rather than splurge on a personal treat. <\/p>\n Up nextMore files we\u2019re following<\/p>\n Meetings: OPEC+ kept oil output unchanged<\/a> yesterday after a quick meeting that avoided discussion of the political crises affecting several \u200dof the \u200bgroup\u2019s members.<\/p>\n Return on investments: Nine Canadian fund managers reveal<\/a> their best stock picks from 2025 and portfolio advice for 2026.<\/p>\n Returning assets: This Hamilton hospital is employing new tech to track down<\/a> misplaced equipment.<\/p>\n Funny business: Becoming a stand-up comedian meant succeeding at failure<\/a>, writes Alex Robert Ross.<\/p>\n Morning update<\/p>\n