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 CPI Trim: 2.6% (2.4%...

Trump v The Bond Market | October 2024

“I used to think if there was reincarnation, I wanted to come back as the President or the pope or a .400 baseball hitter. But now I want to come back as the bond market.  You can intimidate everybody.” James Carville The result was expected to be close, delayed, and...

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%...

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 the...

The New ‘New Normal’ | July 2020

“My new normal is to continually get used to new normals.” Anonymous The natural progression in economics is for an ‘unprecedented’ crisis to be followed by a ‘new normal’.  The old modes and models are discarded and replaced with ones that reflect the new post-crisis...