religious business (Robert J. Barro, Rachel M. McCleary) One striking result is the substantial (and statistically significant) positive response since 1900 of thecanonization and beatification rates to a region’s Protestant or Evangelical population. We interpret these effects as strategic responses of the Catholic Church to competition within Christianity from Protestantism or Evangelicalism. Morgan Stanley: Buy calls, sell CDS for earnings relief rally (GS, Oct.7)