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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...

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coconut macaroons

 

Ingredients:

  • 1 14-oz bag sweetened flaked coconut, such as Baker’s Angel Flake
  • ⅞ cup sweetened condensed milk
  • 1 teaspoon vanilla extract
  • 2 large eggs whites
  • ¼ teaspoon salt
  • 4 ounces semi-sweet chocolate, best quality such as Ghirardelli, chopped (optional)

Instructions:

  1. Preheat the oven to 325°F. Set two oven racks near the center of the oven. Line two baking sheets with parchment paper.
  2. In a medium bowl, mix together the coconut, sweetened condensed milk and vanilla extract. Set aside.
  3. In the bowl of an electric mixer, beat the egg whites and salt until stiff peaks form. Use a large rubber spatula to fold the egg whites into the coconut mixture.
  4. Using a mini ice cream scoop or two spoons, form heaping tablespoons of the mixture into mounds on the prepared baking sheets, spacing about 1 inch apart. Bake for 23 to 25 minutes, rotating the pans from top to bottom and front to back, until the tops and edges are golden. Let cool on the pans for a few minutes, then transfer to a wire rack to cool completely.
  5. If dipping the macaroons in chocolate, melt the chocolate in a microwave-safe bowl at medium power, stopping and stirring at 30 second intervals, until just smooth and creamy. (Alternatively, melt the chocolate in a double boiler over simmering water.) Dip the bottoms of the macaroons in the chocolate, let the excess drip off, and place on a parchment-lined baking sheet. Refrigerate until the chocolate is set, about 15 minutes.


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