The Globe and Mail reports in its Thursday edition that tariff threats did not spoil corporate Canada's appetite for deal making and fundraising over the past three months. The Globe's Jameson Berkow writes that stock sales and merger and acquisition activity both soared in the second quarter. Borrowing activity appeared to be the sole casualty of the continental trade war, with corporate debt issuance from early April to late June totalling $22.6-billion, fully one-third below the same period in 2024, though still roughly in line with the most recent 10-year average for the second quarter. "There was a drastic drop in the month of April," said Patrick MacDonald, co-head of Canadian debt capital markets at RBC Capital Markets, the top investment bank for debt deals during the first half of the year. The decline coincided with what U.S. President Donald Trump dubbed "Liberation Day" on April 2, when his administration announced levies on imports from around the world and trade war concerns were at their peak. When Mr. Trump mostly backed down a few days later, those fears slowly dissipated and market confidence was eventually restored. "May and June have been extremely active," Mr. MacDonald said.