Notes From The Desk

Notes From the Desk - US CPI - Faint Progress US March inflation points to a slight moderation in price pressures.   YoY headline CPI 5% vs 5.1% expected. YoY core CPI 5.6% vs 5.6% expected....

Notes from The Desk - FOMC Meeting – The Dot Plot Thickens The Federal Reserve (Fed) raised the overnight rate by 25bps on Wednesday afternoon, bringing the range to 4.75-5%.  The Fed also softened...

Notes from the Desk - North American Labour Markets Remain Strong. Once again, more people than expected found work on both sides of the border. Canada: • Employment increased by 21.8k vs 10k...

Notes from the Desk: SVB Impact on Rate Markets It’s been a wild Monday morning, with US and CAD 2y rates dropping 0.50%. Since Thursday we have seen the US 2y decline ~1% and the CAD 2y fall...

Notes from the Desk - US Inflation Chairman Powell is certainly earning his $190k salary, dealing with a battle on two fronts. Just a few days ago, the market was 100% certain that the Federal...

Notes from the Desk: Bank of Canada Meeting - Steady As She Goes As expected, the Bank of Canada (BoC) remained on pause and kept the overnight rate at 4.50%. Noteworthy: The BoC sees signs that...

Notes from the Desk - US Payrolls - Holy Crap! By the numbers. Today’s US payrolls blew the doors off. The economy produced 517k jobs last month, more than double the 185k forecast. The unemployment...

Notes from the Desk - Bank of Canada: This is the End. To quote the Doors, ‘this is the end, beautiful friend…the end.’ At least for now. After delivering a 25 bps hike and bringing the overnight...

Notes from the Desk:  US Inflation – A Sigh of Relief US CPI was bang on the consensus forecast: YoY Headline Inflation: 6.5% (previous 7.1%) YoY Core Inflation: 5.7% (previous 6%)   Goods...

Notes from the Desk - CAD CPI – Still High But Heading in the Right Direction. By the numbers. November CPI came in at 6.8%, lower than last month’s 6.9% print, but higher than the 6.7% forecast....

Notes from the Desk - Federal Reserve - Reading the Tea Leaves   What they did.   As expected, the Federal Reserve (Fed) raised rates 50bps, bringing the band for the Funds rate to 4.25%-4.5%...

Notes from the Desk | US CPI - Heading in the Right Direction US CPI decelerated by more than forecast as the recent drop in energy prices offset higher food costs. YoY CPI – 7.1% vs 7.3% expected...