Market Insights
Monthly Commentaries
The New Year Edition | December 2024
“Every new beginning comes from some other beginning’s end.”
Seneca
Notes from the Desk
Employment Data – The Plot Thickens
Today’s employment data confirms that economic conditions between Canada and the US continue to diverge. The numbers. US 227k jobs created (220k expected). Unemployment rate: 4.2% (4.1% expected)....
Canadian GDP – Sl’oh Canada
This morning, all eyes were on GDP to hint at what the Bank of Canada (BoC) will do at their December 11th meeting. The numbers. Q3 GDP: 1.0% (vs. 1.1% expected). September MoM GDP: 0.1% (vs. 0.3%)....
CAD October CPI – Neither Here Nor There
Inflation rose slightly in October, with headline CPI at 2%. But this probably does very little to influence the Bank of Canada’s (BoC) decision in December. The numbers. YoY CPI: 2% (1.9%...
Canadian Employment Data – Nothing To See Here
Domestic employment growth was humdrum in October. The numbers. 14.7k jobs created (27k expected) The mix was slightly favourable, with 25.6k full-time positions generated versus 11.2k...
FOMC – The Results Are Inc
The Americans had one unanimous vote this week, with all members of the Federal Reserve Committee agreeing to deliver a 25 bps cut, reducing the target range for the Fed Funds Rate to 4.5-4.75%....
The BoC Rate Announcement – The Big Ease-y
This morning, the Bank of Canada (BoC) reduced the overnight rate by 50 bps to 3.75%. Since June, the BoC has lowered the policy rate by 1.25%. The takeaways: With inflation falling...
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