Notes From the Desk: Employment Data – The Plot Thickens   Today’s employment data confirms that economic conditions between Canada and the US continue to diverge.   The numbers.   US   227k jobs created (220k expected). Unemployment rate: 4.2% (4.1% expected). YoY earnings growth: 4% (3.9% expected).   Canada   5k jobs created (25k […]

Notes From The Desk: Canadian GDP – Sl’oh Canada   This morning, all eyes were on GDP to hint at what the Bank of Canada (BoC) will do at their December 11th meeting.   The numbers.   Q3 GDP: 1.0% (vs. 1.1% expected). September MoM GDP: 0.1% (vs. 0.3%). October Advanced Estimate: 0.1%. GDP YoY: […]

Notes From the Desk:  CAD October CPI – Neither Here Nor There   Inflation rose slightly in October, with headline CPI at 2%.  But this probably does very little to influence the Bank of Canada’s (BoC) decision in December.   The numbers.   YoY CPI: 2% (1.9% expected) YoY CPI Median: 2.5% (2.3% expected) YoY […]

Notes From The Desk: Canadian Employment Data – Nothing To See Here   Domestic employment growth was humdrum in October.   The numbers.   14.7k jobs created (27k expected) The mix was slightly favourable, with 25.6k full-time positions generated versus 11.2k part-time jobs lost. The unemployment rate held steady at 6.5% (6.6% expected), aided by […]

Notes From The Desk: FOMC – The Results Are In   The Americans had one unanimous vote this week, with all members of the Federal Reserve Committee agreeing to deliver a 25 bps cut, reducing the target range for the Fed Funds Rate to 4.5-4.75%.   As this was widely expected, the market focused on […]