A shaky U.S. market characterized by sweeping tariffs and a potentially punishing foreign tax policy is prompting the Public Sector Pension Investment Board, which reported earnings Friday, to look for more deals outside the U.S., including in Canada. (The Globe and Mail)

Talking point: About 40 per cent of PSP’s assets are currently based in the U.S., compared to 20 per cent in Canada. CEO Deborah Orida said the fund—which manages $300 billion in assets on behalf of workers in the federal public service, Canadian Armed Forces and the RCMP—wants to up its Canadian holdings, potentially through more infrastructure investments. That plan comes as Ottawa intends to spur private investment to boost Canada’s economy and reduce dependence on the U.S. The Caisse de dépôt et placement du Québec CEO Charles Emond also said this week the fund would likely trim its U.S. portfolio, citing U.S. President Donald Trump’s proposed plan to increase taxes on certain non-U.S. residents and entities investing in the country.