Market Insights
Monthly Commentaries
Fast & Furious XI: Tariff Wars | February 2025
‘I live my life a quarter mile at a time.’
Dominic Toretto
Notes from the Desk
FOMC Meeting – Much Ado About Nothing
As expected, the Federal Reserve (Fed) held rates steady. In light of the uncertainty created by the US administration, the Fed reiterated that they remain ‘data dependent’. The numbers. The dot...
The BoC Rate Cute – Certainly Uncertain
Amid ‘pervasive uncertainty’, the Bank of Canada (BoC) cut the overnight rate 25 bps to 2.75%, taking us to the midpoint of their estimated range for the neutral rate (2.25% - 3.25%). The Decision. ...
Canadian & US Employment Data – No Big Deal
Investors and traders are likely relieved that today’s employment data didn’t add to the market confusion. The Numbers. Canada 1.1k jobs created (20k expected) Unemployment rate 6.6% (6.7% expected)...
FOMC Rate Announcement
Nobody was surprised that the FOMC held rates steady this afternoon. Inflation remains elevated, while the labour market remains strong, leaving the FOMC to remain on the sidelines. The Press...
Bank of Canada Rate Announcement
The Bank of Canada (BoC) lowered the policy rate by 25 bps to 3%, now firmly inside the 2.25%-3.25% neutral rate band. The Bank also dropped forward rate guidance, adopting a neutral posture for...
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)....