Notes From The Desk
Notes from the Desk | FOMC Meeting – The Over/Under Nov 02 2022
Notes from the Desk: FOMC Meeting - The Over/Under The Federal Reserve (Fed) raised policy rates by 75bps bringing the overnight rate into the 3.75% - 4% range. Chairman Powell reiterated...
Notes from the Desk | Bank of Canada – Reading The Tea Leaves Oct 26 2022
Notes From The Desk: Bank of Canada – Reading The Tea Leaves. “We are drawing closer to the end, but we are not there yet" Tiff Macklem The Bank of Canada (BoC) surprised markets by...
Notes from the Desk | Just Not Cool Enough Oct 19 2022
Inflation Frustration – Just Not Cool Enough Headline CPI increased 0.1% in September with the annual rate easing 0.1% to 6.9% (versus consensus 6.7%) CPI excluding food and energy rose 0.4%...
Notes from the Desk | Canadian Business Outlook Survey Oct 17 2022
Notes from the Desk - Canadian Business Outlook Survey Q3 saw Canadian business sentiment experience its third-largest drop, behind only the Great Financial Crisis and the pandemic. Although...
Notes from the Desk | September Employment Data Oct 07 2022
Notes From the Desk - September Employment Data This morning’s North American data can be summarized as meeting expectations. By the Numbers: US 263k jobs created (255k expected) YoY wage growth as...
Notes from the Desk | FOMC Decision – Talking Tough Sept 22 2022
The Federal Reserve (Fed) delivered a 75bps rate hike, bringing policy rates into the 3.0-3.25% band. The Fed’s median forecasts for overnight rates: End of 2022 – 4.4% End of 2023 –...
Notes from the Desk | Canadian Inflation – A Glimmer of Hope Sept 20 2022
Notes From The Desk: Canadian Inflation - A Glimmer of Hope Canadian inflation slowed in August, with headline CPI coming in at 7% (7.3% expected) as lower gasoline prices offset rising food costs....
Notes from the Desk | US CPI – Still Too Hot Sept 13 2022
Notes from the Desk - US CPI - Still Too Hot Today’s CPI number disappointed those looking for signs that the Federal Reserve (Fed) could ease off the brakes. Annual inflation came in at 8.3% (8.1%...
Notes From The Desk | Canadian Jobs – Strike 3? Sept 09 2022
Notes From the Desk - Canadian Jobs - Strike 3? Today’s 40k decline in jobs makes it three declines in a row. The unemployment rate moved up from 4.9% to 5.4% Seasonal adjustments added to the...
Notes From The Desk | BoC Meeting: We Aren’t There Yet Sept 07 2022
The Bank of Canada (BoC) hiked 75bps this morning, bringing the overnight rate to 3.25% The BoC squashed any hope that they were finished by making it clear that ‘policy interest rates will need to...
Notes From The Desk | Non-Farm Payrolls, A Sigh of Relief Sept 02 2022
Today’s US employment data shows that unsustainable growth is moderating: 315k jobs created (318k expected) Unemployment rate moves up 2 ticks to 3.7% (labour force rose by 800k as more...
Notes From The Desk | Jackson Hole – Higher for Longer Aug 26 2022
Chairman Powell's much-anticipated speech was short and to the point this morning. His effort to keep inflation expectations under control was on full display as he forcefully aligned...