Notes From The Desk

Notes from the Desk: US Treasuries - The Trifecta of Pain   The last few days have not been kind to holders of US treasuries, with yields rising and the curve steepening. One. The first...

Notes From the Desk: FOMC Meeting - A Tweak Away   As widely expected, the Federal Reserve (Fed) hiked 25bps, bringing the fed funds into a range of 5.25-5.5%.  The press release was almost a...

Notes From the Desk: Two for One Special -  Bank of Canada and US CPI   Bank of Canada Rate Announcement. The Bank of Canada (BoC) raised the overnight by 25 bps, bringing it to 5%.   The...

Notes From the Desk:  Today’s Employment Data - Sealing the Deal   Canadian and US employment data for June was released this morning, confirming the resiliency of labour markets despite higher...

Notes From The Desk: FOMC Meeting - A Hawkish Pause   The FOMC chose to exercise patience today by holding rates steady but raised the terminal rate's median projection to 5.6%, indicating the...

Notes From the Desk - US Inflation - Is It Slow Enough?   The last data point before tomorrow’s Federal Reserve (Fed) dropped this morning. The numbers. YoY headline CPI 4% (Consensus estimate...

Notes from the Desk - CAD Employment Data - Is Bad News Good News? Today’s headlines will focus on the loss of 17k jobs, but the ‘devil is in the details.’ The headline numbers.   Employment...

Notes from the Desk:  The Bank of Canada Rate Announcement- Surprised But Not Surprised   Today's announcement. The Bank of Canada (BoC) raised the overnight rate by 25 bps to 4.75% this...

Notes from the Desk - US Jobs Data – Will the Fed Pause the Pause? Today’s US employment data offered a little bit for everyone.  Payrolls crushed expectations, but unemployment ticked higher and...

Notes from the Desk - CAD CPI – It’s Still Hot in Here   The Canadian inflation data for April surprised to the upside this morning.   YoY CPI 4.4% vs 4.1% expected. YoY core-CPI measures...

Notes From the Desk: US & Canadian Employment – Not Cinco-ing (de Mayo) with Expectations   Both the US and Canadian employment wage growth data were stronger than expected, as the...

Notes from the Desk - The Powell Pause (kinda)   As expected, the Federal Reserve (Fed) delivered a 25bps hike, establishing the range of the Fed funds rate at 5-5.25% The accompanying...