Oct 28, 2024 | Notes from the Desk
Today’s CPI is the last major data point before next week’s Bank of Canada decision, and it certainly means they will cut the policy rate. The numbers: YoY CPI 1.6% (1.8% expected) The main driver of the decline in headline inflation was a YoY drop of...Oct 8, 2024 | Monthly Commentaries
“You are responsible because you choose! Think carefully before you make a move! One mistake may be your last.” The Choose Your Own Adventure Warning Over the past five years, the bond market story has read like a choose-your-own-adventure novel, jumping from one...Oct 4, 2024 | Notes from the Desk
The unambiguously strong September US jobs report dented the summer narrative of weakness in the labour market. The numbers: 254k jobs created (140k expected). Unemployment rate falls to 4.1% (4.2% expected). YoY wage growth of 4% (3.9% expected)....Sep 19, 2024 | Notes from the Desk
The FOMC kicked off the easing cycle with a 50 bps reduction in the ‘Fed Funds’ rate. Although several cuts are clearly coming, the FOMC did not express a sense of urgency. The interesting bits: With one dissenter and 9 out of 19 members seeing a total...Sep 6, 2024 | Notes from the Desk
Today’s payroll data confirms that job growth is slowing, opening the door for further central bank accommodation. The numbers: US 142k jobs created (165k expected). Unemployment rate: 4.2% (4.3% expected). YoY wage growth: 3.8% (3.7% expected)....
