Notes From The Desk

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...

Notes From The Desk: CAD CPI - It's All About The Base   Inflation continued to decelerate in March, meeting consensus expectations.   Annual CPI fell from 5.2% to 4.3% as lower energy...

Notes From the Desk - Bank of Canada Decision - Patience Young Grasshopper   As expected, the Bank of Canada (BoC) held rates steady at 4.5%.  They also updated their economic forecasts:  ...

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...