Jun 5, 2026 | Notes from the Desk
The labour (or labor) market on both sides of the border had something to say this morning, and neither said what the market expected. South of the border, payrolls more than doubled the consensus, giving the Treasury market something to worry about. Canada’s...May 7, 2026 | Monthly Commentaries
“I am not lost, for I know where I am. But however, where I am may be lost.” Winnie-the-Pooh Before GPS, before the blinking blue dot, sailors and explorers navigated the open sea using a method called dead reckoning. The technique is elegantly simple. You...Apr 10, 2026 | Monthly Commentaries
“The four most dangerous words in investing are: this time is different.” Sir John Templeton First and foremost, our thoughts go out to those impacted and affected by the war. One of our most basic human desires is for safety and security, and with that in...Mar 19, 2026 | Notes from the Desk
Central bankers dread the word ‘stagflation’, and today Governor Macklem was doing his best to avoid saying it out loud. The BoC held the policy rate at 2.25%, caught between a softening economy and an energy shock that threatens to push inflation higher. The...Mar 19, 2026 | Notes from the Desk
The FOMC held rates steady, citing uncertainty stemming from the Iran war as a reason to remain on the sidelines. Nonetheless, as this meeting provided updated forecasts, there was plenty for bond traders to chew on. The notables. Full-time employment accounted for...
