Notes From the Desk:  CAD CPI – A small sigh of relief   Canadian headline CPI for September surprised nearly everyone by coming in below expectations. By the numbers..   YoY CPI 3.8% (4% expected) The average of the Bank of Canada’s favourite core CPI measures was 3.75% (3.9% expected)   The Implications. Normally, a […]

Notes From the Desk – US CPI – The Devil is in the Details   Surging energy prices pushed the headline September CPI a touch higher than expected.  While media outlets will flash the headline number, the devil is in the details, and that is what the Federal Reserve will be paying attention to.   […]

Notes From the Desk – North American Employment Data – No Shortage of Help Wanted   By the numbers. CAD 64,000 jobs were created (20,000 expected) The increase in jobs was primarily driven by a 66,000 gain in the education sector, which can be volatile at certain times of the year Employment growth was skewed […]

Notes From the Desk: FOMC Decision – Higher for Longer.   As expected the FOMC held rates steady, while leaving the door open for one more hike this year.   The noteworthy.   The significant changes are to be found in the infamous ‘dot-plot’ which shows that FOMC members reduced the magnitude of cuts in […]

Notes From the Desk:  CAD CPI – Stagflation Alert   Rising unemployment and slower economic growth seem to have had little downward impact on prices.   The rise in headline inflation was fueled by higher gasoline prices, rents, and mortgage costs.  YoY food prices dropped to 6.9% from 8.5% in July, and travel-related costs such […]