Bank of Canada Governor Mark CarneyMARK BLINCH/Reuters
Avery Shenfeld of Canadian Imperial Bank of Commerce has for the past two years been named the top forecaster of the Canadian economy by Bloomberg Markets. But could it be that the dismal science is not his only calling?
Mr. Shenfeld, it turns out, is a budding lyricist, offering up this little ditty called The Carney Man Can as part of CIBC's commentary package on Friday.
Now, turns of phrase and pop culture have livened up many a dull economic report. (One of Streetwise's favourites is the perennial interest rate question, 'Should he stay or should he go,' but then we're partial to The Clash.) But this effort from Mr. Shenfeld takes it to a new level.
Take it from the top, Mr. Shenfeld (to the tune, of course, of The Candy Man Can ).
The Carney Man Can
by Avery Shenfeld
Who can take recession, cast off all the blue
Steer the yield curve lower get a miracle or two
The Carney Man, oh the Carney Man can
The Carney Man can 'cause he's been the world's best Gov
and makes the street feel good
Who can push stability, with bankers far and nigh
Make new capital targets look as easy as a pie
The Carney Man, oh the Carney Man can
The Carney Man can 'cause he's led the FSB
with credibility
The Carney Man states
economic fates
With a voice that's so delicious
As he talks about his CPI wishes
You can see that he's ambitious
Who can a make a forecast, of rate hikes coming soon
Back away tomorrow but retain the same old tune
The Carney Man, oh the Carney Man can
The Carney Man can so we keep from too much debt
and make our credit scores good
Who can go to London, be the newborn King
Guide the City bankers make the UK market sing
The Carney Man, oh the Carney Man can
The Carney Man can if there's anyone who can
with all the mess to fix
Who will one day come back, bruised after his five
Looking for a new roost, perhaps on Sussex Drive
The Carney Man, oh the Carney Man can
The Carney Man can 'cause he's Canadian through and through
and makes our hearts go oooooh