Notes From The Desk
Notes From The Desk | The Fed’s Playbook Leaked May 05 2022
Notes From the Desk | The Fed's Playbook Leaked Unlike the Supreme Court's abortion ruling, which was leaked in secret, the Fed’s playbook was leaked by Chairman Powell himself. Today’s meeting was...
Notes From The Desk | CAD CPI Apr 20 2022
Notes From the Desk|CAD CPI - Surprised But Not Surprised CAD CPI for March blew past expectations coming in at a hot 1.4% increase for March (1% expected) bringing the YoY change to 6.7% (6.1%...
Notes From The Desk | US CPI Apr 12 2022
Has Inflation Peaked? Lead by surging gasoline prices US CPI did not disappoint coming in at 8.5% YoY. Core CPI came in at 0.3% vs expectations of 0.5%, offering a glimmer of hope that March's print...
Notes From The Desk | Canadian Employment Data Apr 08 2022
The March Canadian employment data was in line with the market expectations. 72.5K jobs created (93k full time jobs created, while the economy lost 20k of part time workers Unemployment rate drops...
Notes From The Desk | US Payrolls – Keeping the Flames Alive Apr 01 2022
US Payrolls - Keeping the Flames Alive Hiring in the US continued at a solid pace: 431k jobs added versus expectations for 490k Previous two payrolls revised higher by 95k job Unemployment rate 3.6%...
Notes From The Desk | Canadian Labour Force March 11 2022
COVID - Been There, Done That The Canadian economy continues to storm back from the pandemic. Today’s Labour Force numbers were jaw-dropping: 336.6K jobs created vs expectations of 127.5k...
Notes From The Desk | The Expected & Unexpected March 10 2022
The Expected - US CPI. Today’s US CPI came in as expected with headline inflation of 7.9% and core inflation of 6.4%. With the recent jump in commodity prices threatening to prolong the period of...
Notes From The Desk | Bargains in High-Quality Credit? March 03 2022
Bargains in High-Quality Credit? Yesterday, Scotiabank came to market with a $2.25 bn 5y Senior Bond. · The coupon was 2.95% · Credit spread of +132 bps The credit spread is more than double the...
Notes From The Desk | Canadian Inflation – Seals The Deal Feb 16 2022
Canadian Inflation - Seals The Deal CAD CPI exceeded forecasts as price pressures are spreading across the economy. · Headline CPI came in at 5.1% (4.8% expected) · Core was 3.3% (3.1% expected) A...
Notes From The Desk | Canadians & US Employment Update Feb 04 2022
Canadians & US Employment Update Today’s employment data demonstrates the stark differences in the response to Omicron between the US and Canada. US Employment numbers far exceed expectations: ·...
Notes From The Desk | FOMC Announcement Jan 19 2022
Canadian Inflation & The World Wide Web Canadian CPI clocked in at 4.8% for 2021. The last time it was this high was 1991, the year the internet was made available to the public. While life...
Notes From The Desk | Business Outlook Survey Jan 17 2022
Today’s business outlook survey confirmed that the Canadian economy is at full capacity: · 77% of firms plan on hiring in 2022 · 78% of firms report difficulty in meeting unexpected demand · Labour...