May 8, 2024 | Monthly Commentaries
The archer who misses his mark does not blame the target. He stops, corrects himself, and shoots again.’ Confucius This time last year, we expressed our view that the neutral rate of interest (i.e., the level that is neither restrictive nor accommodating) was higher...May 2, 2024 | Notes from the Desk
Notes From the Desk – FOMC Meeting: Steady as She Goes Today’s FOMC meeting was as expected. The Federal Reserve (Fed) kept rates unchanged while announcing well-telegraphed changes to Quantitative Tightening (QT). The key points: The Fed believes...Apr 16, 2024 | Notes from the Desk
Notes From the Desk – Tracking Trends: CAD CPI on the Downward Path Governor Macklem and Co. are going to be pleased with the March CPI data. By the numbers: Headline CPI 2.9% (2.9% expected) CPI Median 2.8% (3% expected) CPI Trim 3.1% (3.2% expected)...Apr 10, 2024 | Notes from the Desk
Notes From The Desk: Two For One Special – US Inflation & The BoC US Inflation. US CPI came in hotter than expected for the third month in a row. Headline inflation printed at 3.5% (vs. 3.4% expected). Core inflation came in at 3.8% (vs. 3.7%...Apr 9, 2024 | Monthly Commentaries
‘I haven’t been everywhere, but it’s on my list.’ Susan Sontag As bond nerds, we are constantly engaged in discussions with allocators and investors about their fixed-income portfolios. Three years ago, when interest rates were close to zero, these conversations were...
